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1997 (2) TMI 101 - SUPREME COURTWhether the Customs authorities have taken relevant factors into account in making the final assessment of the said plant? Held that:- The letter dated 24th August, 1982, written by the Assistant Collector of Customs to the appellants intimating to them that the said contract had been registered, stated that spares to the extent of 10 per cent of the value of the main machinery were eligible for the concessional rate of assessment under Item 84.66. It goes without saying that this percentage must now be calculated on the basis of the enhanced value of the said plant. Spares to that extent would form part of the project import and must be valued on par with the said plant, that is to say that the rate of exchange which is applied in respect of the said plant must also be applied to this percentage of the spares. Appeal allowed.
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