2018 (1) TMI 1062

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....ant Shri K. Veerabhadra Reddy, JC (AR)For the Respondent ORDER Per B. Ravichandran The appellant is aggrieved by the order dt. 26.8.2010 by Commissioner of Customs & Central Excise (Appeals), Trichy. 2. The appellants imported Ethylene in bulk. The goods were assessed provisionally and later, the assessment was completed resulting in certain excess payment on the imported goods for the year 2....

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....ost including higher payment of customs duty during the year 2008-09 as material cost in their books, during the year 2009-10 they have reversed the customs duty attributed to the excess payment and shown it as "receivables". It is his submission that the bulk quantity imported in October 2008 is used beyond March 2009 and if at all full cost shown for the goods of account 2008-09 can only affect ....

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.... is not tenable. 5. Heard both sides and perused the appeal records. Admittedly, the goods imported in October 2008 suffered higher customs duty on provisional basis. The import cost along with higher customs duty has been considered for cost calculation in the financial year 2008-09. This is an admitted fact. The only plea of the appellant is that the import in October 2008 continued to be used ....