TaxTMI 
TaxTMI 
2002 (1) TMI 739
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....Kait, Member (T) (Oral)]. - The Commissioner of Customs vide his Order-in-Original No. 88/CAU/Chennai/60/2000, dated 11-12-2000 has rejected the transaction value and enhanced the assessable value from US $ 0.613 per piece (CIF) to US$ 0.81 per piece CIF. He has also confiscated the goods under Sections 111(d) and 111(m) of the Customs Act, 1962 read with Section 3(2) of the Foreign Trade (....
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....e under ITC (HSN) code 8523 9003.90 wherein "Video cassettes" were "restricted goods" up to 31-3-2000. Thereafter with effect from 31-3-2000 vide Notification No. 2 (RE-2000)/1997-2002, dated 31-3-2000 the item had been shifted from "restricted item" to "free list". Therefore, their Bill of Entry which has been filed on 21-6-2000 is after this date and therefore no import license is required for t....
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....L.T. 613 wherein it has been held that acceptance by assessee of enhanced value proposed by department due to his urgency to clear the goods does not preclude him from challenging in enhancement by way of appeal. This judgment of the Tribunal has been confirmed by the Hon'ble Supreme Court as reported in 1997 Vol. 90 Part 3 A183 and the appeal of the department has been rejected by the Hon'ble Sup....
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....tes the department view in the matter. 4. Heard both sides. We find that no import license is required on these items after they were shifted from the category of restricted item to free item vide Notification No. 2 (RE-2000)/1997-2002, dated 31-3-2000. Since these goods have been imported after this item was shifted from restricted list to free list they are not required to have license the....