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2011 (10) TMI 312 - AT - CustomsValuation & Redemption fine - Toyota land cruiser imported - chassis number, engine number as submitted in bill of entry were found different on investigation - Show cause issued declaring confiscation and rejection of declared value - Assessee argued price adopted from 'unknown website', no alternative method rule of valuation followed, not utilized services of Chartered Engineer, value arrived after including value of 'refurbished items' - Held That:- When variances were found in details furnished by assessee with investigation, relevant enquiries were made by department in the absence of price disclosed by the manufacturer, department relied upon details available in a website. Assessee not able to substantiate that the list price of 2780 model, at which he relied. Department has adopted reasonable means for arriving at the list price of 2004 model and given trade discounts and depreciation. Since the vehicle imported in 2007 is lying idle in department's custody, we feel that there is scope for some leniency. Redemption fine reduced from 2,00,000 to 1,00,000.
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