Q. What are the equivalent citations for Collector of Customs, Ahmedabad vs Jayant Oil Mills Private Limited ?

The equivalence citation areAIR 1999 SC 1569 ; (1998) 9 SCC 639 ; 1998 (100) ELT 10 (SC) ; JT 1998 (9) SC 52 ; LQ/SC/1997/87 ;

Collector Of Customs, Ahmedabad Vs. Jayant Oil Mills Private Limited On 21 January, 1997

Q: Q. What was the bench assigned for the case Collector of Customs, Ahmedabad vs Jayant Oil Mills Private Limited?

HONBLE JUSTICE A. M. AHMADI (CJI), HONBLE JUSTICE S. P. BHARUCHA

Open iDraf

Collector Of Customs, Ahmedabad v. Jayant Oil Mills Private Limited

Collector Of Customs, Ahmedabad
v.
Jayant Oil Mills Private Limited

(Supreme Court Of India)

No | 21-01-1997

Two questions were raised by the learned A.S.C. at the hearing of this appeal, namely, (1) whether the payment of interest would have to be added to the price of the goods to arrive at the assessable value for the purposes of assessment of duty in terms of Section 14 of the Customs Act and (2) whether the amount of redemption fine would have been reduced by the Appellate Tribunal without giving adequate reasons therefor. We have perused the line of reasoning adopted by the Tribunal on both these issues and we are of the opinion that on the language of Section 14 and the fact that the amount of interest did not go to the seller but to the banker it reached the conclusion that the interest did not swell up the price of goods but was on account of the 120 days time allowed to the assessee. The Tribunal was right in holding that the price continued to be U.S. Dollars 556.75 per M. Ton and, therefore, this contention was rejected. So far as the second contention is concerned it may be mentioned that when it was realised that the redemption fine was based on the notes of the Collector which could not be described as evidence, only alternative left to the Tribunal was to remit the matter to the authority below but on being persuaded by Counsel to estimate the redemption fine the Tribunal worked it out at 35% considering that to be a reliable estimate of the margin or profit at the material time. We see no reason to interfere with this estimate arrived at by the Tribunal. For the above reasons, we see no merit in this appeal and dismiss the same with no order as to costs.

Advocates List

Shri M. S. Usgaonkar, M/s. A. Subba Rao, C.V.S. Rao, Advocates.

Bench List

HON'BLE JUSTICE A. M. AHMADI (CJI)

HON'BLE JUSTICE S. P. BHARUCHA

Eq Citation

AIR 1999 SC 1569

(1998) 9 SCC 639

1998 (100) ELT 10 (SC)

JT 1998 (9) SC 52

LQ/SC/1997/87

HeadNote

Customs — Valuation — Interest — Whether to be added to price of goods to arrive at assessable value — Held, amount of interest did not go to seller but to banker and did not swell up price of goods but was on account of 120 days time allowed to assessee — Hence, Tribunal was right in holding that price continued to be U.S. Dollars 556.75 per M. Ton — Customs Act, 1962, S. 14