2001 (1) TMI 285

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....Asthana, Advocate, for the Appellants. Shri P.K. Jain, SDR, for the Respondent. [Order per : Justice K. Sreedharan, President]. - Appellant, M/s. Jindal Vijayanagar Steel Ltd., wanted to set up an integrated steel plant under the Export Promotion Capital Goods Scheme (EPCG Scheme). They obtained approval of the Government of India for the said project and also got licence dated 14-11-1995....

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....(c) service agreement for a sum of 118 million ATS. Pursuant to the above agreements, the company imported various capital goods whose value was less than the amount covered by the licence. Those capital goods were cleared without payment of duty. Thereafter, proceedings were initiated by the Department to load the value of the goods by adding the amounts covered by the three contracts, namely, en....

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....d into between the appellant company and the exporter. According to the learned counsel representing the appellants, the goods, which were imported under the EPCG Scheme, are not to be loaded by adding the amounts covered by the three agreements, namely, engineering contract agreement, service agreement and the fee for operating licence. This contention of the learned counsel appears to be well-fo....