2016 (5) TMI 988

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ellants, during the material time, were engaged in the manufacture of Stainless Steel Utensils. They exported two consignments of the said utensils on 15/01/2004 and 03/03/2004 at the total declared value of Rs. 55,74,498/- under the scheme of DEPB to the extent of Rs. 9,21,194/-. The said goods were manufactured in their factory and the necessary ARE-2 were examined by the proper officer of Central Excise having jurisdiction over their factory. The same were examined by the Customs Authority and no objection was raised by them. After examination and verification, the goods were allowed to be exported. The appellant also received foreign exchange against the said export. 3. Revenue, after entertaining the view that the value of the utens....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....m M/s. Aravali Engineers, M/s. Shiva Industries, M/s. Salawas Steels and M/s. Rajlaxmi Industries. After finding out the average selling price of the said units, Revenue has adopted average of the same for arriving at the present market value of the goods exported by the appellant. 6. On the other hand, we find that the appellant had taken a categorical stand that the goods were manufactured in their factory and necessary ARE-2 were examined by the proper officer of the Central Excise Range. They also produced the purchased documents of the basic raw material and contended that the goods were allowed to be exported after full examination by the Custom Authorities. Based upon the said exports, DFGT has already issued the DEPB scripts agai....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... also note that the appellant produced the export invoices of the same manufacturers showing the export value to the extent of around Rs. 109 k.g. The Commissioner is silent about the said evidence produced by the assessee. We also note that the export was verified and examined by the Custom Officers and no discrepancy was found in the same. The FOB value of the goods was accepted by the officers at the time of export. Even in terms of the Boards Circular dated 03/06/1997, the correctness of the declared value is required to be verified by processing the shipping bill and at the time of examination of the goods. Revenue is also not disputing the full realization of the FOB value. We find that the issue stands covered by the majority decisi....