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2013 (8) TMI 795 - AT - CustomsMis-declaration of value - Undervaluation of Goods – Duty Short paid - Whether undervaluation was proved was to be decided on the basis of the facts of each case - The commodity involved and the parties involved also were relevant - In the case the commodity involved was sophisticated mechanical equipment and measuring instruments which were not sold in bulk - Extensive price negotiation was on record - Detailed justification why the manufacturer cannot give further discount was on record - So suddenly the prices cannot come down to 1/4th - In the facts and circumstances of the case the finding of the Commissioner was upheld that the transaction Value declared were liable to be rejected - Collector of Customs, Bombay v. Shibani Engineering Systems, Bombay [1996 (8) TMI 106 - SUPREME COURT OF INDIA ] - abnormally discounted prices cannot be accepted - the prices declared in the Bill of Entry merits were rejected and goods should be assessed on the basis of prices at which goods were offered in the records seized. Whether demand can be issued without challenging the assessment was also settled in UOI v. Jain Shudh Vanaspati Ltd.[1996 (8) TMI 108 - SUPREME COURT OF INDIA ] - the allegation was regarding mis-declaration of value as was evidenced from correspondence sized from the assesse - Where there was such mis-declaration or suppression the extended period of five years specified in Section 28 of the Customs Act was applicable - amount worked out for short levy of duty could not be accepted - the matter was remitted back to the adjudicating authority for re-quantification of short-levy - The penalties also need to be decided afresh in view of the likely reduction in duty liability
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