MINERAL AND METALS TRADING Vs. COLLECTOR OF CUSTOMS

JUDGEMENT

(1.) ORIGINALLY preferred as a revision application to the Central Government, the matter has been transferred to us as an appeal and is being disposed of as such. The present appeal is directed against the Order -in -Appeal dated 28 -4 -1977 passed by the Appellate Collector of Customs, Bombay.

(2.) FOR a proper appreciation of the issues involved in the present appeal, it would be useful to briefly narrate the facts of the case. A contract was entered into between The Minerals and Metals Trading Corporation of India (MMTC), hereinafter called the Buyer, and M/s. Empresa Minera Del Peru (M1NERO -PERU), hereinafter called the Seller, and this contract is dated 6 -3 -1972. As per the terms of the contract, the seller was to supply to MMTC Electrolytic Copper Wire Bars corresponding to ASTM B5/43 specifications. The price clause is also relevant and is reproduced below : -

(3.) THE present dispute relates to a consignment of 999.923 MT of the said goods shipped on 19 -10 -1974 and imported at Bombay port on 4 -11 -1974. The invoice for the goods dated 21 -10 -1974 showed two prices for the combined quantity of 999.23 MT. The relevant portion is quoted as below : -