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The Court found that the petitioner was provisionally assessed under a bond for an amount of Rs. 30,79,13,411/- executed by the exporter. The overseas buyer was a Hong Kong company, and the price of Iron Ore Calibrated Lumps was USD 82.00 per DMKT CFR FO One Main Port North China based on 56.50% Fe fraction prorate. The Freight rate was USD 10.70, and the exchange rate of USD 1.00 was Rs.81.70. The Shipping Bill was assessed provisionally u/s 18 of the Customs Act, 1962, for want of Final Invoice, Test analysis Reports, e-BRC etc. The Court observed that the acceptance and rejection of test reports without assigning reasons cannot be sustained. The impugned assessment orders passed by the Assistant Commissioner were quashed, and the matter was remitted to the authority with a direction to hear it afresh and pass an appropriate order in accordance with law. The petition was allowed by way of remand.
The Court found that the petitioner was provisionally assessed under a bond for an amount of Rs. 30,79,13,411/- executed by the exporter. The overseas buyer was a Hong Kong company, and the price of Iron Ore Calibrated Lumps was USD 82.00 per DMKT CFR FO One Main Port North China based on 56.50% Fe fraction prorate. The Freight rate was USD 10.70, and the exchange rate of USD 1.00 was Rs.81.70. The Shipping Bill was assessed provisionally u/s 18 of the Customs Act, 1962, for want of Final Invoice, Test analysis Reports, e-BRC etc. The Court observed that the acceptance and rejection of test reports without assigning reasons cannot be sustained. The impugned assessment orders passed by the Assistant Commissioner were quashed, and the matter was remitted to the authority with a direction to hear it afresh and pass an appropriate order in accordance with law. The petition was allowed by way of remand.
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