TMI Blog2011 (1) TMI 604X X X X Extracts X X X X X X X X Extracts X X X X ..... ntegra it stands held in the respondents own case reported as Commissioner of Customs, Bhavnagar Vs. Mahavir Ship Breakers reported in 2009 (234) ELT 176 (Tri. Ahmd.) that the reduction in the transaction value after the import of the vessel by modifying the earlier memorandum of agreement is not acceptable for the purpose of reducing the price - Decided against the assessee. - Appeal No.C/24/02 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inspection of the vessel. The vessel arrived on 04.11.98 at Alang Anchorage and on inspection, major discrepancies were noticed like poor condition of steel, no stores etc. Therefore, the seller of the vessel after mutual agreement with the buyer (respondents) reduced the price of vessel to US $ 829,806/- vide addendum dated 06.11.98 to memorandum of agreement. Accordingly, the LC for US $ 829,806 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (1) of Valuation Rules and the same has to be accepted under Rule 4(2) of the said Rules. He accordingly set aside that part of the order of the Assistant Commissioner vide which the assessment at the original contract value was ordered. 4. After hearing the learned DR, we find that the issue is no more res-integra it stands held in the respondents own case reported as Commissioner of Customs, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
