Arijit Pasayat, J. - (1.) Challenge in these appeals is to the orders passed by the Customs, Excise and Gold (Control) Appellate Tribunal, EZB Kolkata (in short the CEGAT) allowing the appeals filed by the respondent holding that the guidelines contained in circular No.69/97-CUS dated 8.12.1997 issued by the Government of India, Ministry of Finance, Department of Revenue, New Delhi, as it has not succeeded in making out a case against respondent as the Present Market Value (in short the PMV)declared is not more than 150% of the AR 4 value. Accordingly the order passed by the Commissioner of Customs (Post) Kolkatta was set aside.
(2.) Background facts in a nutshell are as follows :
(3.) The Respondent Company which is engaged in the business of computerized printing exported for the first time consignments of steel balls of a total declared value at Rs.14.63 crores to one M/s. Ria Multiple Enterprises of Malaysia under Duty Entitlement Pass Book (in short the DEPB) Scheme. Incidentally, the consignee is also a dealer of computer and information technology based products who also acts as General Insurance Agent. Exports were made under DEPB scheme and a claim of Rs.3.20 crores was made.;