2008 (9) TMI 252

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....pellants and Mrs. Sudha Koka, learned SDR for the revenue. 3. We heard both sides. 4. The appellant is a 100% EOU who are manufacturers of Acrylic Mink Blankets falling under Chapter 63 of the Schedule to the CETA, 1985. They were permitted to exit from the 100% EOU scheme by the Development Commissioner subject to fulfilment of certain conditions. Therefore, the Assistant Commissioner determined the duty liability to be paid by the appellants on the raw materials, in-process goods, finished goods and capital goods lying in stock. He also demanded interest on the raw materials which were not put to use for the intended purpose. Aggrieved by the order of the Assistant Commissioner, the appellants approached the Commissioner (A). The Co....

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....e with the approval of the Development Commissioner subject to the payment of Excise Duty. In the policy, only imported and indigenous capital goods, raw materials, components, consumables, spares and finished goods in stock are mentioned. There is no mention about the in-process goods. In the absence of the mention of the in-process goods in the policy, there is no authority for demanding duty on the in-process goods. Hence, we set aside the demand of duty on the in-process goods. 5.2 Further they have questioned the valuation adopted in respect of the goods lying in stock. It is their grievance that though the Chartered Engineer valued these items, only selectively the value recommended by him has been adopted by the lower authority. T....