2016 (1) TMI 626

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....lants are importers of gold for industrial use. They were importing gold under Notification No. 12/2002-Cus dated 17.3.2012. The said notification allows import of gold at a concessional rate of 8% subjection to conditions 5 and 34. The condition 5 and 34 of the Notification read as under:- "Condition No. 5 :- If the importer follows the procedure set out in the Customs (Import of Goods at Conce....

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....imported by the actual user for the purpose of refining and manufacture of silver bars of purity 99.9% and above. The appellants vide their letter dated 23.7.2014 and 29.7.2014 informed the Commissioner that the supplier had informed them vide letter dated 21.07.2014 that he has wrongly shipped a Gold Dore Bar of 3.347 Kg under invoice No. 20/2014 dated 8.7.2014 against requirement of 5 kg as per....

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.... have requested for release of Bar No. 2 for home consumption and for allowing them to re-export Bar No. 1. The Commissioner relying on the decision of the Hon'ble Supreme Court in the case ofCommissioner of Customs, Bombay vs. Elephanta Oil Industries Ltd. - 2003 (152) ELT 257 (SC) and Board's Circular No. 745/61/2003-CX dated 16.9.2003 confiscated the gold bar No. 1 and gave them option ....