M. Santhanam, Member (J)

1. The appellants imported consignment of Ball Bearing valued at Rs. 86,061/- equivalent to SKF Series 6201 to 6208, 6202 to 6308, 6004 and 6005. They claimed the clearance of goods against stock and sale licence No. 2030871, dated 26-12-1983 issued in terms of para 80(1) of the Import Policy for 1983-84. The said para stipulates that Import licence issued in these cases will be subject to the condition that import of a single item of spares listed under Appendices 3, 4 30 of the Import Policy shall not exceed Rs. one lakh, in value per item and import of other items will not exceed Rs. 10 lakhs in value (c.i.f.). The term "single item" for the purpose of this para will have the same meaning as defined in sub-para 31(2) of the Policy Book. The appellants had earlier imported a consignment of ball bearing covered by Sl. No. 434 of Appendix 3 within the value limit of Rs. one lakh permissible for "single item" of spares. The appellants claimed the release of these bearings falling under Sl. No. 86 of Appendix 4 against the stock and sale licence issued in their favour. The Asstt. Collector issued a show cause notice on 21-1-1986 stating that the appella