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1996 (8) TMI 106 - SC - CustomsBenefit of the concessional rate of duty provided by an Exemption Notification (No. 70/89) denied Held that:- The Tribunal mis-directed itself. There is no question of reading the word "and" disjunctively here. The Exemption Notification must be read plainly, as an ordinary man would read it, and, so read, Sl. No. 6(a) says that cups of roller bearings are liable to the duty applicable to the bearings of which they are part and cones of roller bearings are liable to the rate of duty applicable to the bearings of which they are part. There is no justification for reading the entry conjunctively in the sense that the rate of duty applicable to the bearings of which they are part will apply only when the cups and cones of roller bearings are imported together but not if they are imported separately. Insofar as valuation is concerned, the Collector was right in rejecting the transaction value of the goods because, plainly, it was a totally unrealistic value. For the purpose of placing a value on the goods, however, the Collector resorted to very tenuous reasoning which we cannot uphold. At the same time, we must say that we do not approve of the findings of the Tribunal in this behalf, which we have referred to above. It may in a given case be necessary to value unbranded goods on the basis of the known price of branded goods and also the goods of one country of origin on the basis of the known price of the goods of another country of origin, but the linkage must be appreciable and proximate. Thus the matter of valuation of the goods must go back to the Collector and the respondents and appellants should have the opportunity to place before him material as may enable him to arrive at their assessable value.The appeal is allowed.
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