2017 (1) TMI 281

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.... M/s Hazel Mercantile Ltd. imported certain goods on which a dispute regarding country of origin arose. The appellant contested the imposition of Anti Dumping duty and the matter travelled upto the Hon'ble High Court. The Hon'ble High Court directed the Revenue to clear the goods after obtaining a Bank Guarantee from the appellant. The goods were cleared on execution of Bank Guarantee. The....

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.... clarified that such amount was duly shown as "recoverable from Customs" in the Balance-sheet. The Chartered Accountant has also certified that from the invoice it did not appear that the said amounts have been recovered from the buyers. It was argued that the entire consignment of 107.50 MTs of Citric Acid valued at Rs. 84,46,303/- was sold by 4 invoices. The total quantity sold in these 4 invoic....

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....n as recoverable from customs does not mean that appellants have not realize the same from customers. In this case Bank Guarantee was given before clearance of goods. No prudent businessman would not recover the taxes while selling the goods. Further, while going through the balance sheet, it is nowhere found that the amount in question has been receivables or  recoverable from customs. " ....