2014 (11) TMI 784

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....ts on record, M/s. Optic Electronics (India) Pvt. Ltd. is a unit located in SEZ, Noida, imported the components of Night Vision Periscopes in terms of the Notification No. 137/2000-Cus dated 19.10.2000. The said contents were used by them in the manufacture of 11 sets of periscopes. As per the appellant the said periscopes were stolen from their premises on 12.4.2004. Accordingly, they applied for remission of duty of Rs. 28,73,326/- in respect of said missing periscopes. The said remission was disallowed by the Commissioner and duty was confirmed along with interest at the rate of 25%. 3. The said order of the Commissioner was appealed against by the assessee before Tribunal, who vide its final order No. C/642/08-Cus dated 25.11.08 reject....

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....tce having been issued on the ground that the imported goods have not been put to intended use and hence the duty is demandable under the said notification no. 137/2000, it is not permissible in law to go beyond this ground and demand duty on finished / semi-finished goods instead of demanding duty on the components which had been cleared under the said notification. Hence, the demand has to be restricted to the duty foregone on components alone, keeping in mind the ground on which the said show cause notice has been issued. I also accept the argument by M/s. Optic that the interest should be leviable @15% only. Accordingly, I confirm the demand to the extent of Rs. 15,05,623/- only, along with interest @ 15% as due and payable. 5. The rev....