2024 (6) TMI 56

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....aried depending upon prevailing prices of various raw materials as per the indices chosen by the parties under the contract. 1.1. In pursuance of the contract, the respondent filed bills of entry for import of Transformer Main Equipment based on initial provisional bid price for power transmission projects under Section 46 of the Customs Act, 1962 and relevant contract/LOA with price variation clause was specifically mentioned on the bills of entry, invoices, bills of lading, etc., and copy of contract was specifically submitted as per which prices were provisional. Contract agreement was part of the documents on the basis of which assessment of the bills of entry were done and goods were cleared. 2. Thereafter, the respondent vide letter....

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....s paid accordingly and the goods were cleared; thereafter, without challenging the said assessment, reassessment of bills of entry cannot be done. Therefore he prayed that the impugned order is to be set aside. 6. On the other hand, the Ld. Counsel appearing on behalf of the respondent submitted that as the bills of entries were assessed neither finally nor provisionally, therefore, they are deemed to be provisional as per the agreement provided by the respondent during the course of filing the bills of entry stating that the price indicated in the bills of entry is provisional which may be changed later on. In these circumstances, it is his submission that the order passed by the Ld. Commissioner (Appeals) is to be upheld. 7. Heard both ....