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of <h1>Oil in bunker tanks of vessels for breaking must be valued with the ship under customs rules</h1> <h3>Commissioner Of Customs Jamnagar (Prev) Versus Shree Ram Green Ship Recycling Industries (Unit II) LLP.</h3> The SC held that oil in the bunker tanks of vessels sent for breaking up must be valued as part of the ship itself, not separately. The appeal was ... Valuation - Oil in the Bunker Tanks of the Engine Room/outside the Engine Room of the vessels sent for being broken up, are to be assessed separately or as part of the vessels to be scrapped? - HELD THAT:- The issue is decided in M/S MAHALAXMI SHIP BREAKING CORP. ETC. VERSUS COMMISSIONER OF CUSTOMS BHAVNAGAR [2023 (4) TMI 1250 - SC ORDER] where it was held that the oil is to be assessed as part of the Ship. The appeal stands disposed of in terms of the said order. The Supreme Court of India, through Hon'ble Justices Pamidighantam Sri Narasimha and R. Mahadevan, disposed of the appeal relying on the precedent set in Civil Appeal Nos. 538-5342/2009 dated 05.04.2023. The Court held that the issue in the present appeal is 'covered by the decision' in the earlier case, and accordingly, the appeal was disposed of 'in terms of the said order.' All pending applications were also disposed of.
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