1991 (11) TMI 161 - AT - Customs

Summary

The appeal was against the Collector's decision to increase the value of an imported car from US $3050 to Rs. 55,894 plus Rs. 6000. The appellant imported a HONDA Civil Sedan car and declared its value as US $3050. The Collector rejected this value, relying on a world car catalogue from 1981 for a different model. The Tribunal set aside the Collector's decision, stating that the transaction value should have been accepted. The appeal was allowed, and the case was remanded for reassessment based on the transaction value.