2001 (5) TMI 52

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....The facts depict that the appellant had placed the order of supply of 20,027 MT Metallurgical Coke of specified size with M/s. Jenson & Nicholson Pvt. Ltd., Singapore at a stipulated price. According to the invoice from the supplier the price of the consignment was shown as US $ 2,143,524.85. The customs duty was assessed accordingly on the value shown in the invoice and goods were cleared by the ....

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....Saukem (i.e. the appellants herein) allege they have suffered losses, and whereas JNS (i.e. the suppliers) deny these allegations. As a result of discussions between the representatives of the parties hereto, it has been amicably agreed, without any admission of liability by either party that in consideration of both parties refraining from commencing or proceeding with any legal action against....