2006 (8) TMI 407

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....ssued a Public Notice No. 20/2004, dated 3-2-2004 laying down, inter alia, that exchange rate applicable for ex-bond Bills of Entry where duty is paid on tariff value will be the rate 'as on the ex-bond Bill of Entry' i.e., as in force on the date of filing of ex-bond B/E. On 26-7-04, by a corrigendum, the above Public Notice was corrected to the effect that the relevant exchange rate for such ex-bond Bills of Entry will be the rate as on the Warehousing Bills of Entry, in line with the law. 2. M/s. Sri Maharaja Industries had paid duty on the goods cleared under the two ex-bond Bills of Entry dated 6-4-04 following the valuation as per the exchange rate ruling on the date of filing of ex-bond Bills of Entry as per the Public Notice....

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....er and the buyer have no interest in the business of each other; or (b) one of them has no interest in the business of the other, and the price is the sole consideration for the sale or offer for sale : Provided that such price shall be calculated with reference to the rate of exchange as in force on the date on which a bill of entry is presented under section 46, or a shipping bill or bill of export, as the case may be, is presented under section 50; ................................................................................................... ................................................................................................... (2) Notwithstanding anything contained in sub-section (1) or sub-sect....