2023 (6) TMI 321 - CESTAT AHMEDABAD

Re-negotiation of price of Ship Breaking - number of items either replaced or not found as per the understanding arrived with the seller - prices in general had come down during the period of delay - prices had come down by 10 to 15% in international market - HELD THAT:- The re-negotiation of price was done.

Matter remanded back to the Commissioner (Appeals) to look into various aspects. Specially, the evidence of international market prices having come down during the relevant period. The date of entry will be relevant but also whether the re negotiated transaction value was correct and final in terms of re-negotiated contract, it is also to be seen whether same was in consonance with the terms of original agreement, which allowed them to examine the ship in Indian waters.

The matter remanded back.