2010 (4) TMI 632

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....i K. Parameshwaran, Advocate, for the Respondent. [Judgment per: K.L. Manjunath, J.]. - The revenue has come up in this appeal being aggrieved by the order passed by the CESTAT in Final Order No. 576/2008 dated 5-5-2008 raising the following substantial questions of law: (i) Whether the CESTAT is right in directing the department to refund the Mahazar value when the goods had been disposed o....

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....see was seized from the premises of M/s. Patel Angadia Co. Pvt. Ltd. Thereafter a show cause notice was issued to the assessee as well as M/s. Patel Angadia Co. Pvt. Ltd., on 16-3-2000. The respondent-assessee sent a detailed reply to the show cause notice contending that it has purchased the goods from National Co-operative Consumer Federation of India Ltd., vide challan No. 8175 dated 7-9-1999 b....

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....and held that the assessee is entitled for refund of Rs. 10,90,406/- which amount was received by the revenue in a public auction conducted by it. Being aggrieved by the order of the adjudicating authority the appeal came to be filed before the Commissioner of Customs (Appeals) which appeal came to be rejected and against which appeal was preferred before the tribunal. The Tribunal has allowed the....

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....t is not the case of the assessee that there was escalation in the price of silk yarn from 7-9-1999 to 18-9-1999. It is also not the case of the revenue that the market value of the silk yarn has come down between this period. Therefore we are of the view that the appellant is entitled for the actual value paid by the assessee for purchasing the silk yam on 7-9-1999. Under the circumstances, we ar....