TMI Blog2009 (8) TMI 436X X X X Extracts X X X X X X X X Extracts X X X X ..... S-Ibuprofen” imported by the appellants herein from Japan under Rule 9(1)(c) of the Customs Valuation Rules, 1988. Held that- We have gone through the entire agreement and find that the payment by the assessees cannot be said to be in relation to the imported goods but only in relation to the final products to be manufactured by them in India. The learned SDR has not been able to bring to our noti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of US$ 9 lakhs + US$ 10 lakhs is required to be added to the assessable value of "S-Ibuprofen" imported by the appellants herein from Japan under Rule 9(1)(c) of the Customs Valuation Rules, 1988. 2. We have heard both sides and carefully perused the terms of the Option/License Agreement entered into between M/s. Nagase Co., Japan and the appellants. The relevant clauses are reproduced herei ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2) month after, NAGASE's receipt of the first payment of such option fee (the "Option Period"). LICENSE AGREEMENT 1.1 "LICENSED PRODUCT" means S-ibuprofen and the salts of either of the foregoing in the form of bulk raw material. 1.2 "LICENSED TECHNOLOGY" means all technical information of NAGASE available to it, patentable or otherwise, which relates to the process of manufacturing the LI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ugh the entire agreement and find that the payment by the assessees cannot be said to be in relation to the imported goods but only in relation to the final products to be manufactured by them in India. The learned SDR has not been able to bring to our notice any clause in the relevant agreements which would establish that the payment was in relation to the imported goods. We, therefore, accept th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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