2007 (12) TMI 371

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....Chowdhury, JDR, for the Respondent. [Order]. - Heard both sides. The appellants have imported old and used rollers for use in their rolling mills. Shri B.N. Chattopadhyay, ld. Consultant states that the importers were under the bona fide belief that the imported rollers were capital goods, as parts and components of capital goods are treated as capital goods under the Excise Law, for example....

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.... I find that on strict interpretation under the Exim Policy, the impugned goods can not be categorized as capital goods. However, these have been classified under the Machinery Chapter and there is no doubt that these are used as parts of the rolling mills which in turn are used for production and manufacturing of goods. As such, considering the fact that the value of the goods is about Rs. 1....