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2012 (4) TMI 328 - CESTAT, AHMEDABADOvervaluation of the exported goods - Penalty - Regarding determination of present marketable value - CBEC Circular No.69/97-Cus. dated 08.12.97 - Para 3.b specifically talks about PMV and is up to 150% of AR 4 value no market enquiry requires to be caused but if it is more than 150% of AR 4 price, then market enquiry has to be caused. - held that:- The factual aspect of the purchase of CD ROMs from M/s. Padmini Polymers Ltd, at a price cannot be discarded by the Revenue simply for the reason that the said M/s. Padmini Polymers Ltd. had no domestic sale and even if there is any domestic sale, it was to the tune of just merely 0.5% of the total sales affected by them. It is undisputed that even the 0.5% of domestic sales which were affected by M/s. Padmini Polymers Ltd. were of the value which were the purchase price of M/s. Colourtex. If that be so, the quantum of local sale clearances cannot be determinative factor as to whether the purchase price of M/s. Colourtex of the CD ROMs is incorrect or otherwise.
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