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TMI Blog1985 (1) TMI 224X X X X Extracts X X X X X X X X Extracts X X X X ..... dan and presented a manufacturer's invoice at the time of assessment. The manufacturer's invoice was accepted and valuation was done after adding the freight and insurance to the FOB value stated in the invoice. The appellants challenged the valuation and claimed that 15% discount on the manufacturer's invoice should have been allowed to them. This was rejected by the Assistant Collector. 3. They filed appeals before the Collector and argued that the Customs should either allow 15% discount on manufacturer's invoice or valuation should be done on the basis of price list after allowing 15% trade discount and not on the basis of invoice price plus freight etc. They also claimed that Section 14(1)(a) of the Customs Act, 1962 and Rule 3(d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation of the cars should be done at the list price published in the World Car Price Book less trade discount of 15% under Section 14(1)(a) of the Customs Act read with Section 14(1)(b) thereof and Sections 2(30) and 2(22) of the Customs Act and rules framed thereunder. They also requested that air-conditioner and radio-stereo built in the car as a single unit should be deemed assessable at the same rate as the car and not on merits under other headings. Further, freight, insurance and landing charges should not be included in the value under Section 14(1)(a) and depreciation must be allowed from the date of shipping till the date of delivery. 6. During the course of arguments it was added that Section 4 of the Central Excises and Salt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... price at which imported goods are sold or offered for sale for delivery at the time and place of importation. [Emphasis supplied]. Therefore, it is the price at which the goods were delivered at the point of landing in India that is relevant and not the price at which the transaction took place in Tokyo. Adding the freight, insurance and landing charges was, therefore, correctly done. 10. The next question to be decided is whether the claimed discount of 15% has been correctly rejected by the authorities below. The assessment has been done on the basis of manufacturer's invoice. This invoice does not indicate the grant of any discount. It is from the manufacturer and there is a certificate incorporating therein that "the value of mer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e argument is that each three months of the year beginning from January should be taken as one quarter and as the period under reference covers two quarters the appellants should be given depreciation as if the car has been used for two quarters of a year, that is to say, six months. No law or any rule under which the appellants are entitled to such depreciation has been cited before us. Also, we are of the opinion that the period during which the car was in transit on a ship cannot be taken as the period during which the car was in use. In the absence of any proof of entitlement to such reduction in value on account of depreciation, we reject this ground also.
13. In the result all the four appeals fail and are accordingly dismissed. X X X X Extracts X X X X X X X X Extracts X X X X
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