2003 (5) TMI 286

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....ondent. [Order per : Gowri Shankar, Member (T)]. - The appellant imported a consignment of 40 load cells, seeking clearance at Air Cargo Complex in Mumbai. The advance licence that covered the import of these goods, as well as other documents, had been registered by it in the Bombay Custom House. In accordance with the normal procedure, therefore, the Custom House issued to the Air Cargo Com....

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....n the licence were taken into account, there would be no shortfall. In his order, the Assistant Commissioner accepted that the exchange rate taken in the release advice was incorrect, but said that the importer should have asked for an assessment order from the concerned section in this regard and rejected the claim. On appeal, the Commissioner (Appeals) confirmed both the reasoning and the conclu....

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....itlement to import available in a particular licence, issued by the Custom House where licence is registered. Both the Assistant Commissioner and Commissioner (Appeals) agree that the release advice could have been issued at the exchange rate mentioned in the licence of Rs. 31.80 = US$ 1. If that is the case and there is no dispute about this, - the debit made to the licence should have been corre....