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R.K.ABICHANDANI, M.VEERAIYAN
Commissioner of Customs, Bhavnagar – Appellant
Versus
Lucky Steel Industries – Respondent


Advocates Appeared:
K.J. Sanchej

ORDER

Per M. Veeraiyan : These are departmental appeals against Order of the Commissioner No. 746 to 747/2001 (174 to 175-CCP) Cus/Commr (A)/Ahd. dated 27.11.2001 relating to import of vessels for ship breaking.

2. None appeared for the respondents. Heard learned D.R. for the department on the issue of valuation of vessels bought for ship breaking relating to these appeals. The matter was referred to the Larger Bench vide Tribunal's Order No. M/906-907/WZB/2006/CB dated 28.6.2006 [reported in 2006 (76) RLT 93 (CESTAT-Mum.)] and the Larger Bench after considering the issue referred to them, answered the reference by their Order dated 26.2.2007 [reported in 2008 (85) RLT (CESTAT-LB)] and, sent the matter to the referral Bench for passing appropriate order. Accordingly, these appeals are taken up for final disposal.

3. The relevant facts of the case relating to these appeals are brought out in the submissions of learned D.R. as recorded in the Order of the Larger Bench, which are reproduced below:-

"He then invited attention to the memorandum of agreement, entered into by the two respondents M/s. Lucky Steel Industries and Y.S. Investment under which purchase price of vessel was indicated

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