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2010 (8) TMI 437 - AT - CustomsValuation - Assessable value of import vessel - Light Displacement Tonnage - The appellants imported a vessel MV Sagar Prabhat on 12-5-2003 for breaking purpose - the value of the ship between seller and buyer, has not been arrived at on the basis of LDT. It is a lump-sum quantum required to be paid by the buyer to the seller for the ship in question and the price not based on per unit of LDT - There is no other evidence on record to show any extra payment to the seller or flow back of money - The payments have been made by cheque through letter of credit - whether LDT declared by the appellant was correct or not, find that the LDT is not a relevant factor for arriving at the assessable value of the goods especially in respect of the vessel imported in the year 2003 when the tariff was changed and the duty was required to be paid only on the basis of assessable value - Hence, the appeals filed by the appellants are allowed.
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