OPTIC ELECTRONICS (INDIA) PVT. Vs. COMMR. OF CUS.

JUDGEMENT

(1.) THE appellant challenges the order of the Commissioner holding that the exemption granted to the appellant was not available because the appellant had failed to fulfil the condition of exemption notification and the terms of the bond executed in compliance of the terms of the notification and ordering the appellant to pay an amount of Rs. 28,75,236/ - pursuant to the bond.

(2.) THE appellant had imported "periscope night vision equipment PMK -72" for the purpose of manufacture/export of tools permitted to the appellant in terms of LOA against various bills of entry. According to the appellant, 11 sets of periscopes and their accessories were stolen from their premises in respect of which the appellant filed FIR on 12 -4 -2004, while simultaneously intimating about the same to the Deputy Commissioner of Customs.

(3.) ON the strength of B -17 bond executed by the appellant, and because details of the goods were not made available to show that they were the same as reported to have been stolen and in view of the undertaking to pay duty chargeable on such goods imported by them duty free, the appellant was called upon to pay the amount of Rs. 28,73,236/ - leviable on the missing periscopes on the ground that the appellant had not fulfilled their obligation.