2001 (8) TMI 684

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....DR, for the Respondent. [Order per : K.K. Usha, President]. - The appeal arises out of an order passed by the Commissioner of Customs, ICD dated 29-3-2001. 2. The appellant company imported one second hand MERCEDES 300 SEL 4 door car of 1993 model alongwith 3 tyres with rims. They filed Bill of Entry dated 8-10-1996 seeking customs clearance. Since the appellant had no licence for th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t is not entitled to import the car without a licence in the light of the provisions contained under ITC Public Notice No. 202/92-97, dated 30-3-1994. It is the case of the appellant that the car was gifted by Shri Aseem Chauhan, a NRI and a Director of Houston Polymers Inc. United States of America to the appellant company in which he had more than 40% share capital. Therefore, according to the a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ppellant has no case that M/s. Houston Polymers Inc. is holding equity in the appellant company. It is only Shri Aseem Chauhan who is a Director of the foreign company is having shares in the appellant company. Therefore, even if we accept the contention raised by the appellant on the basis of letter dated 4-9-1996 (Annexure 'C') addressed by Houston Polymers Inc. that it was foreign company which....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....or of Customs, Cochin v. K.K.R. Ibrahim Rowther (3) 1994 (74) E.L.T. 931 (Tribunal) - Collector of Customs, Cochin v. Kumaran Krishna Kutty Secondly, it is pointed out that the exchange rate shown in Item (v) of the calculation as Rs. 24.23 is not correct. It will be as Rs. 23.71, In support of the above, Notification dated 25-9-1996, effective from 1-10-1996 was placed before us. It is....