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2011 (1) TMI 1014 - CESTAT, MUMBAIValuation of the vehicles - assessee had purchased the vehicles in connection with transfer of their residence to India - invoices issued by those dealers were obviously local sale invoices, but these invoices did not show the address of the buyers - Held that:- If it was the intention of the assesse to purchase brand new cars for the purpose of importation into India in connection with transfer of their residence, they should ordinarily have obtained the invoices with all the relevant particulars mentioned thereon - instructions contained in the relevant circulars of CBEC were also followed by the original authority in determining the assessable value of the vehicles. The original authority also examined whether any depreciation of value could be allowed, and found valid reason not to allow such depreciation, on the facts of the case. authority further allowed 20% discount on the assessable value determined by the lower authority. As a matter of fact, Commissioner (Appeals) has been fair enough to grant reasonable relief to the assessees by taking into account relevant factors like demurrages, adverse weather conditions etc, even after the above discount, the assessable value of the subject-cars remains far above the declared value, there can be no grievance for the Revenue, appeals stand dismissed.
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