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JYOTI BALASUNDARAM, T.ANJANEYULU, K.K.AGARWAL
Commissioner of Customs, Bhavnagar – Appellant
Versus
Lucky Steel Industries – Respondent
Per K.K. Agarwal : Heard both sides.
2. The basic issue referred for decision by the Larger Bench [referral order reported in 2006 (76) RLT 93 (CESTAT-Mum.)] is that in case of import of ships for the purpose of scrapping whether any price variation on the basis of addendum issued to Memorandum of Agreement (MOA) can be allowed after the vessel has entered the territorial waters of India specially when there is no clause for price variation in the MOA and the only recourse provided in the case of discrepancy is, arbitration which was not taken recourse to, and the vessel is sold on the basis of LDT of the vessel by agreeing to a particular amount per Ton of LDT and there is no change in the LDT at the time of importation.
3. The learned D.R. Shri Pardeshi on behalf of the Revenue submitted that ships for scrapping are generally sold on the basis of the LDT of the vessel by agreeing to a particular amount per Ton of LDT and that this is an established practice of selling the vessel for breaking in international trade. LDT is a well defined term in maritime law and is commonly understood by all those who deal in the sale and purchase of old ships for the purpose of scrapping. Even
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