1993 (8) TMI 86

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..... 2. Proviso (vii) of the Notification No. 197/62 dated 17-11-1962, issued under Rule 12 of Central Excise Rules, 1944, for grant of rebate of excise duty paid on goods exported during the relevant time was in the following words :- "(vii) The value of goods at the time of exportation is, in the opinion of the Collector, not less than the amount of the rebate claimed;" 3. Shri Sanjay Khanna, Deputy Legal Manager of the applicant's firm appeared for a personal hearing on 27-7-1993 and reiterated the submissions made in the revision application. According to Shri Khanna the word "Value" as mentioned in the Proviso (vii) has nowhere been defined; that the lower authorities were wrong in holding that value for exportation was to be det....

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....he "value of the goods at the time of export" which is relevant. In their respective scope, therefore, assessable value under Section 4 relates to pre-clearance value of goods i.e. before they have suffered duty incidence whereas under the Notification No. 197/62 the value at the time of export is clearly the value-cum- duty (or FOB). As stated above no definition of value perse is given in the Central Excise Act. The word "value" is contextual viz. "at the time of their return to the factory" (Rule 97) or "at the time of export" (Notification No. 197/62) or "where under the Act...... with reference to value, such value" (Section 4). If one were to graft the definition of value from Section 4 into Notification under Rule 12 (as done by Coll....