2016 (12) TMI 1209

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.... Patil, Advocate for the Appellant. Shri. Ahibaran, Addl. Commissioner(A.R.) for the Respondent. ORDER Per : Ramesh Nair The appellant imported capital goods under Project Import Regulations, 1986 and executed bond and bank guarantee. The adjudicating authority confirmed the demand of Customs Duty denying benefit of Project Import Regulations, 1986 on the ground that appellant have not....

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....benefit of Project Import Regulations does not sustain. 3. Shri. Ahibaran, Ld. Addl. Commissioner(A.R.) appearing on behalf of the Revenue reiterates the findings of the impugned order. He submits that one of the requirement under Project Import Project is to execute bond and bank guarantee to ensure the setting of the project for which the project import benefit was extended. He submits that r....

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....nd perused the records. 5. We find that as regard the Rule 7 requirement of filing of re-conciliation statements, the same was inserted w.e.f. 7/1/1992 in the Project Import Regulations, 1986 therefore the requirement of Rule 7 per say cannot be made applicable in appellants case as the import was made in 1990. However on perusal of the bond executed by the appellant it is observed that as per ....