DIASTAR JEWELLERY LTD. Vs. COMMISSIONER OF CUSTOMS

JUDGEMENT

(1.) APPELLANTS are engaged in the manufacture and export of studded jewellery, plain gold jewellery. They hold a private bonded warehouse licence and are situated in SEEPZ, Mumbai, an Export Promotion Economic Zone as an other than a Domestic Tariff Area Unit. They are also engaged in the import and re -export of cut and polished diamonds in terms of para 8.13, read with para 9.21 of the EXIM Policy 1997 -2002. The other appellant is the Managing Director.

(2.) 1 After hearing both sides and considering the matter, it is found (a) The finding of the Commissioner to the effect -

(3.) 1 In view of the findings herein, the appeal of the Managing Director is allowed in full. The appeal of the company is partially allowed as regards the penalty and the liability to confiscation of the diamonds. The appeal, only as regards the quantum of duty liability, on gold, is remitted back for de novo determination of the duty. The issue of time bar in this case is being kept open in the de novo proceedings.