J M INDUSTRIES Vs. UNION OF INDIA

JUDGEMENT

(1.) Mr. D.N. Patel, learned Sr. Standing Counsel for the respondent no. 1 waives service of rule. At the request of the parties, the matter is taken up for final disposal.

(2.) The petitioner in this petition under Article 226 of the Constitution of India has sought a writ of mandamus against the respondents for refund of interest amount of Rs. 25,52,795/- due on excess customs duty illegally collected of Rs. 38,53,275/- retained during the period from April, 1995 to September 1999, calculated at the rate of 15% p.a. prescribed under the notification and further interest on Rs. 25,52,795/- at the rate of 10% p.a. for the period from October, 1999 to the date of actual refund to the petitioner.

(3.) The brief facts giving rise to the present petition are that the petitioner had earlier filed a Special Civil Application No. 3685 of 1987 before this Court seeking various reliefs therein. The basic issue involved in the said petition was in respect of the assessable value of the vessel, namely, M.S. Satya Kailash imported by the petitioner. It was claimed by the petitioner that upon correct assessable value, the customs duty payable would come to Rs. 1,34,84,156/- whereas the Department was of the view that the petitioner was liable to pay the customs duty of Rs. 1,92,63,076/-. The petitioner had claimed that the depreciation should be allowed at the rate of 30% from the original weight of the vessel and the assessable value should be determined after considering the depreciated weight of vessel.