2005 (5) TMI 137

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....- This appeal has been filed by Revenue against the impugned OIA dated 7-4-2003 passed by the Commissioner of Central Excise (Appeals), Hyderabad. 2. The respondents exported Deep Well Hand Pumps under the brand name 'PSR' under DEPB Scheme. The FOB value per pump was Rs. 9,405/- and the PMV (Present Market Value) was declared at Rs. 9,405/-. The Deputy Commissioner undertook a cost analysis of....

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....the grounds that the DC had resorted to market survey based on the Board's Circular dated 3-6-1997. In the present case, some other exporters exported similar goods with a price range of Rs. 4,500/- to Rs. 6,000/-. It was also contended by the Revenue that the DC had done a scientific study of the issue to arrive at the PMV. Moreover, the entire calculations were based on the data furnished by the....

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....otice has been issued beyond 30 days period specified in the Circular. (iii)     As per Para 6 of the Circular, PMV has to be verified through market enquiries by SIB and not by the assessing officer. In this case, the assessing officer, who is the Deputy Commissioner, has done the market enquiry. (iv)     The market enquiries conducted should be in re....

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....s pointed out that after getting clarification from DGFT, New Delhi, the Joint DGFT had granted DEPB credit on the full value of the FOB as per the EXIM Policy. 5. The learned SDR reiterated the contentions made in the departmental appeal. 6. On a very careful consideration of the entire issue, we find that the Board has issued several Circulars in respect of the determination of the Present....