TMI Blog2001 (6) TMI 443X X X X Extracts X X X X X X X X Extracts X X X X ..... ils about the confirmed deals, buyers, sellers, quantities and future trends. In terms of the agreement, L/C was opened. Shipments were to be made in September. On 18th of September, 1995 the present appellants asked for immediate delivery. However, the suppliers wanted a longer period for completing the supply. At the end of September, 1995, the appellants asked the suppliers to redetermine the price in view of the world-wide fall in the price of styrene monomer. Further, negotiations followed. As a result the supplier reduced the price to US$ 470 PMT. The L/C was accordingly amended. In the later half of October, 1995, the publication referred to this and also showed the ruling price of such monomer as US $ 460/- PMT. The consignment was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case of Eicher Tractors Ltd. v. CC, Mumbai - 2000 (122) E.L.T. 321 (S.C.). In this case because there was no buyer for a particular stock of bearings, a very substantial concession was given to the importers. The price was rejected as being lower than the discounted prices shown as per the seller s price list. The Supreme Court went through the Valuation Rules and held that a mandate has been cast upon the authority to accept the price actually paid or payable in respect of the goods under assessment claimed as the transaction value. The Supreme Court cautioned that this mandate was subject to the exceptions quoted in Rule 4(2) of the Valuation Rules. At this stage, we find that the Commissioner s reliance on two judgments is negated by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sale price. 6. Certain judgments have been cited in the Supreme Court judgment in the case of Eicher Tractors Ltd. The ld. Counsel for the importers cited other judgments. The Supreme Court observation that the burden for proving transaction value was upon the Customs also arises from their judgment in the case of Sounds N. Images - 2000 (117) E.L.T. 538 (S.C.). 7. Earlier we have given the gist of the dialogue that preceded the imports. The present appellants had entered into a contract to purchase goods at US $ 650 PMT on the condition that the supply must be made during September. On 19-9-1995, the supplier wanted a short postponement in the date of shipment from 20-9-1995 to 31-10-1995. Thereafter, further dialogue followed. The app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re akin to the facts before us. The prices were negotiated. The letter of credit was accordingly opened. Subsequently the international prices had fallen. The goods were imported at a reduced rate. The Customs had not agreed to the reduced price. The Tribunal observed that the reduction was on mutual agreement on the fact having been established that the world-wide prices were fallen. In the present case, we find that the fall in world-wide prices was documented and framed the basis of negotiations between the two parties. 9. Some doubts would arise on perusal of the price at which the same goods were supplied presumably by the same supplier to the other importers at the same time at prices ranging between US $ 620 to US $ 650 PMT. Shri J ..... X X X X Extracts X X X X X X X X Extracts X X X X
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