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2011 (10) TMI 4 - SC - CustomsProvisional assessment - Demand - Rule 10A of the Customs Valuation (Determination of Price of Imported Goods) Rules, 1988 - It was argued that the contemporary invoices clearly indicated that at the time of actual shipment of the goods, the international market price was much higher and therefore, the transaction value declared by the respondent could not be accepted in terms of Rule 4 of CVR 1988 - Held that:- A mere suspicion upon the correctness of the invoice produced by an importer is not sufficient to reject it as evidence of the value of imported goods - According to Section 14(1), the assessment of duty is to be made on the value of the goods - It is true that the commodity involved had volatile fluctuations in its price in the international market but having delayed the shipment, the supplier did not increase the price of the commodity even after the increase in its price in the international market - No other reason has been ascribed to reject the transaction value under Rule 4(1) except the drastic increase in price of the commodity in the international market and the difference in price in the invoices in relation to the goods imported under contracts entered by the respondents in the month of August 2001 - Decided in favor of the assessee
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