2005 (7) TMI 504

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....S.L. Peeran, Member (J)]. - This appeal arises from Order-in-Original No. 65/2001 dated 7-3-2002 passed by the Commissioner of Central Excise & Customs, Visakhapatnam. The Revenue is aggrieved with the Commissioner's order accepting the transaction value of the imported vessel as declared in the Bill of Entry. The importer had purchased the vessel in a tender for an amount of Rs. 1.03 crores. On....

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....ite notice issued. 2. We have gone through the impugned order. The Commissioner has examined the issue and passed the order on this point also holding that this amount was to be paid towards various dues to be payable for various other parties and purposes. After detailed examination he has found that the amount of Rs. 50.50 lakhs paid was towards business expenditure and cannot be considere....