TaxTMI 
TaxTMI 
2020 (3) TMI 204
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....01/90/1/05 dated 26.8.19 93 by the Joint Director-General of Foreign Trade the licensing authority to import goods duty-free without payment of Customs duty. 3. These 2 Advance Licenses were issued in the year 1993 as per the Export and Import Policy, 1992-97 as inforce at that time read with relevant Hand Book of Procedure issued under and the Foreign Trade (Development and Regulation) Act, 1992. The petitioner was required to fulfil export obligation. 4. Under these licenses, the petitioner was entitled to import goods duty-free as per the corresponding Customs Notifications issued by the Central Government, Ministry of Finance. 5. Imports were made under Customs Notification No 159/90-Cus dated 13.3.1990 and Customs Notification....
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....as filed before the 1st respondent settlement commission to settle the case. 12. The petitioner thereafter approached the 1st respondent Settlement Commission on 9.6.2003 to settle the dispute under section 127 B of the Customs Act, 1962 and admitted liability of Rs. 39,25,511/- apprehending collateral proceedings by the authorities to impose penalty interest and prosecution. 13. Before the 1st respondent Settlement Commission, the petitioner prayed for settling the case on payment of payment of Rs. 39,25,511/- and prayed for immunity from penalty and waiver of interest under the provisions of the Customs Act, 1982. The petitioner paid the aforesaid amount on 27.5.2005. 14. Before the Settlement Commission, the petitioner primarily....
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....ort Policy, 1992-97 read with relevant Handbook of Procedure issued for the aforesaid purpose. 19. Learned Counsel for the Petitioner relied on the decision of the Courts in the following cases:-. i) India Carbon Ltd., Etc vs. The State of Assam, 1997(6) SCC 479 ii)V.V.S.Sugars vs. Govt. of Andhra Pradesh and Ors, AIR 1999(SC) 2124 iii) Delta Paper Mills Ltd., vs. Collector of Central Excise, Gunter, 1995 (77) E.L.T. 544 (A.P.) iv) The Income Tax Officer, 'A' ward Indore v. Gwailor Rayon Silk Manufacturing (Weaving) Co., Ltd., Birlagram.Nagda, AIR 1976 (SCC) 43 20. The learned counsel for the petitioner thereafter referred to the following decisions:- i) In Re : SRF Ltd., 2003(158 E.L.T.788....
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....preme Court and that of the Bombay High Court in the following cases:- i) Commissioner of Income Tax vs. M/s. Sun Engineering Works (P) , 1992 Supp 1 SCR 732 ii) Krishena Kumar and Anr. Etc. Etc. vs. Union of India and Ors, 1990 AIR 1782, 1990 SCR (3) 352 iii) Mohandas Issardas And Ors. Vs. A.N.Sattananthan And Ors. AIR 1955 Bom 113 (1954) 56 BomMLR 1156 24. I have considered the arguments of the learned counsel for the petitioner and the respondents. I have also perused the records which have culiminated in the impugned order and also considered the case laws. 25. The Central Government has Issued Notification No. 46/2013- Customs dated 26.9.2013. The said notification has amended the a host of Notification....
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....reme Court in Rex Nord Electronics and Control Ltd versus Union of India 2008 (224) E LT 184. It has already answered the issue against the petitioner. There the court held as follows: "The appellant then having evaded payment of duty was bound to pay the same and further more was bound to pay interest in terms of the bond executed by it. The Settlement Commission, therefore, could not have given any direction for deduction in regard thereto. As a settlement commission did not have any jurisdiction to waive the amount of interest payable under the bond, we do not see any jurisdictional error has been committed by it in directing the payment of the said amount which is otherwise payable. In any event the appellant is not prejudiced ....