FOMENTO RESOURCES PRIVATE LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) Heard.

(2.) Rule. With the consent of the parties, petition is taken-up for final disposal at admission stage.

(3.) The petitioners state that Marine Infrastructure (Goa) Pvt. Limited (MIG), is a joint venture Company between Infrastructure Logistic Private Limited, a Company incorporated in India and Fomento Associated Singapore Holdings Pvt Ltd, a Company incorporated in Singapore, who purchased and imported a floating crane namely FC Maria Laura in India, Goa in the year 2011. Marine Infrastructure Goa Private Limited (herein after referred to 'MIG') purchased FC Maria Laura crane which was newly constructed in Batam, Indonesia from Orchard Maritime Services Pte Limited, a company incorporated in Singapore pursuant to Bill of Sale in the year 2011 for a total basic value of USD 11,102,472/- which correspond to Rs.49,96,11,240/-. The Company i.e. MIG paid requisite import duty amounting to Rs.7,95,45,874/- on 26.5.2011 pursuant to the examination and appraisal of custom duty duly made by the appraiser of customs, Customs House, Goa, by considering the Bill of Entry for Home consumption dated 19.5.2011 and other documents.