2016 (12) TMI 9

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....mukh, Advocate for the appellant Shri SJ Sahu, Asst Commissioner (AR) for the respondent ORDER Appellant, M/s Niwas Spinning Mills Ltd, was issued with licence for import of second-hand machines, with CIF value of Rs. 33,72,89,389, under the Export Promotion Capital Goods (EPCG) scheme of the Foreign Trade Policy notified under Foreign Trade (Development & Regulation) Act, 1992. The licen....

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....nished along with bond as a condition of provisional assessment. The licencing authority had, initially, vide letter F No. 01/36/022/13/AM-96/EPCG-III/101 dated 26^th  May 1997, declined to entertain the application but it was finally acceded to by enhancing the permissible limit of import to US$586487 vide letter dated 29^th January 1999. Despite this enhancement, the licence was yet not ....

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....Court of Bombay whereupon expedtitious disposal of the matter was directed. 4.  In the de novo proceedings, the original authority observed that appellant had failed to submit release advice from the Customs House of registration for the enhanced amount and, concluding that it had not been produced despite time having been granted, decided to finalise the provisional assessment in view of ....

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....ded by the licencing authority is incorporated into the licence and it has the effect of having been revised to the higher limit from the original date of issue. The assessing officer appears to have encashed the bank guarantee without finalizing the provisional assessment which is an action outside the authority of law. Duties become payable only upon assessment and failure to discharge assessed ....