2016 (12) TMI 763

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....vocate for Appellant Shri Ahibaran, Addl. Commr. (A.R.), for Respondent Per: M.V. Ravindran: This appeal is directed against Order-in-Appeal No. PI/319/05 dated 31.08.2005 passed by the Commissioner of Central Excise (Appeals), Pune-I. 2. Heard both sides and perused the records. 3. The issue that falls for consideration is whether the appellant is eligible for the refund of the amo....

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....toms Basic duty was amended to 10%. Thus the appellants paid excess Customs Basic duty to the tune of Rs. 29,65,836.90. The said amount was sanctioned by the adjudicating authority vide above cited order and the sanctioned amount was ordered to be credited to the Consumer Welfare Fund. Being aggrieved, the appellants filed this appeal. 5. Aggrieved by the Order-in-Original, an appeal was filed ....

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....that appellant had shown the amount claimed as refund as receivables in Balance Sheet, with a narration that this amount is due from Revenue Authorities. It is a common knowledge that when the amount is shown as receivables, it is not expensed out in the Balance Sheet, hence will not form a part of the cost of the final product manufactured. Since there is no dispute that the amount of refund soug....