2004 (3) TMI 547

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....oti Balasundaram, Member (J)]. -  The respondents herein, who are engaged in the business of ship breaking, had purchased M.V. Samrat Ashok from Shipping Corporation of India in open public auction for Rs. 11,63,00,000/- and the vessel was handed over to them at the port of Sikka and later beached by them at Alang ship breaking yard. Bill of entry under Section 46 of the Customs Act, 1962 fo....

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.... of excess duty of Rs. 8,99,884/-. The Commissioner (Appeals) relied upon the Tribunal's order in their own case reported in 1989 (39) E.L.T. 109 which was affirmed by the Apex Court as seen from 1995 (77) E.L.T. A105, to conclude that the correct value of the ship is auction price plus 1% landing charges. He set aside the adjudication order and directed refund. Hence this appeal by the Revenue. ....