GENERAL FIBRE DEALERS LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) The petitioner No. 1 is a company carrying on business of, inter alia, importing and manufacturing various goods. The petitioner No. 2 is a share holder of petitioner No. 1.

(2.) By a notification dated April 18, 1980, issued under Section 25(1) of the Customs Act, 1962, the Central Government exempted Aluminium scrap when imported into India from so much of the Customs duty leviable thereon which is specified in the First Schedule of the Customs Tariff Act as in excess of 35% ad valorem of customs duty leviable thereon.

(3.) By a further notification dated January 1, 1981 the aforesaid exemption from basic Customs duty and additional duty was extended upto and inclusive of the 31st March, 1981.