2023 (10) TMI 832

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n that for the purpose of calculating duty and interest, the respondent-assessee should be given the benefit to the extent of valuation based upon the exports already made (i.e. Rs. 3,89,87,054/)-. The export commitments were fulfilled to this extent is not in dispute. The impugned order is modified. Instead of the depreciated value, a proportion may be duly worked out taking into account the e .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ndent assessee had availed benefit of 100 per cent exemption from payment of customs duty, for the import of capital goods. This was hedged with two conditions; that its export obligations fixed by the Development Commissioner under the exemption policy had to be fulfilled and also that the final products could not be sold outside the Domestic Tariff Area (DTA) without fulfilling the condition o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... customs duty. 5. Having heard learned counsel for the parties and having considered the material on the record, the Court is of the opinion that for the purpose of calculating duty and interest, the respondent - assessee should be given the benefit to the extent of valuation based upon the exports already made (i.e. Rs. 3,89,87,054/)-. The export commitments were fulfilled to this extent is no .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X