2000 (11) TMI 150

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....hells - of the value of Rs. 49.89 lakhs as per the invoice at the time of import in January, 1986, had relied upon the purchase code by the officials in one of the stores at Delhi in the month of May, 1986 of shelled almonds which had been purchased at the rate of Rs. 200/- per hundred grams. 2.The amount so fixed by the Commissioner was reduced by the Tribunal on the ground that in its view that sum was excessive. Among the factors noted by the Tribunal was the fact that at the time of import there was ambiguity as to whether the importation of dry fruits by export houses claiming the benefit of additional licence under the terms of the Import Policy of 1978-79 was permissible. During the year of import the importation of such goods was....

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....ers are not binding precedents. The second question is answered against the assessee and in favour of the revenue. 4.The order of the Tribunal does not advert to the market price as on the date of import. It considered the material which the Collector had regarding the market price for shelled almonds some months after the date of import. The Tribunal also referred to a report in the Economic Times of 17-5-1986 which reported that Almond California had jumped by Rs. 200/- to Rs. 250/- in the dry fruits market as on that date. Apparently, there was some increase in price between the date of import and the time at which the Collector made the order. It was, therefore, necessary for the Tribunal, to determine as to what the market price was....