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2010 (1) TMI 1145 - KERALA HIGH COURTWhether the price declared before customs authorities is much less than the floor rate fixed? Held that:- Argument of the appellant cannot be accepted as the basis for challenging the validity of circular issued by the Commissioner fixing the price because it is for the customs authorities to examine whether invoice price or the declared price for payment of duty is right. In fact the correct procedure to fix the price for timber for the purpose of collection of advance tax is to collect from the market the prevailing retail market price at a given time and reduce therefrom the dealer margins to fix the dealer's price which is the price at which advance tax could be collected. As we have already observed going by the current market price of varieties of imported timber for which the Commissioner has fixed floor rate price for the purpose of payment of advance tax, the price fixed cannot be said to be unreasonable or arbitrary, more so when the appellant has no case that sales are made at below the floor rate fixed by the Commissioner. Appeal dismissed.
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