V3 INTERNATIONAL Vs. COMMISSIONER OF CUSTOMS (APPEAL)

JUDGEMENT

(1.) Heard Learned Counsel for the petitioner and Sri Ashok Singh, who has accepted notice on behalf of respondents.

(2.) Petitioner, a partnership firm engaged in the business of trading of imported as well as indigenous Multimedia Speakers and Computer Peripherals. As per Custom Tariff Act, 1975 the prevalent Customs Tariff Head for Multimedia Speakers is Ch. 1858 29 00. Accordingly, on import the petitioner firm was declaring goods under the said chapter. However, under the new policy the Multimedia Speakers with USB card reader or FM facility are classified under another Ch. 8519 89 90 and were chargeable Counter Veiling Duty based on Reserved Sale Price of the goods.

(3.) A search operation was carried out and pursuant to the search summons were issued to the partners of the firm for appearing with the requisite documents. Subsequently, a show cause notice under Sec. 124 of Custom Act, 1962 was issued by the respondent No. 2. The petitioner firm submitted its reply dated 27-6-2014 to the aforesaid show cause notice.