JUDGMENT

S.N. Variava, J.-This Appeal is against the Judgment of the Customs, Excise and Gold (Control) Appellate Tribunal (CEGAT) dated 24th August, 1001.

2. Briefly stated the facts are as follows:

One M/s. SKF Bearing (I) Ltd. Bombay had exported under bonds, ball bearings, vide Shipping Bill Nos. 481120 dated 22nd August, 1994, 494274 dated 9th November, 1994, 503510 dated 9th December, 1994 and 506157 dated 19th December, 1994. These ball bearings were subsequently purchased by the Appellants and re-imported in India vide two Bills of Entries dated 14th March, 1995. There appears to be no dispute that the goods which have been imported are the same which had been exported by SKF Bearing (I) Ltd. The Appellants claimed benefit of the proviso Section 20 of the Customs Act, 1962, the relevant portion of which reads as follows:

"Section 20-Re-importation of goods:- If goods are imported into India after exportation therefrom, such goods shall be liable to duty and be subjected to all the conditions and restrictions, if any, to which goods of the like kind and value are liable or subject, on the importation thereof:

Provided that if such importation (other than importation of goods expo