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2015 (9) TMI 1019 - SUPREME COURT

2015 (9) TMI 1019 - SUPREME COURT - 2015 (324) E.L.T. 29 (SC) - Valuation - Revenue contends that value mentioned in MoA dated 23.08.2000 should have been the valuation for the purpose of levying the import duty - Held that:- price was genuinely revised and a lesser price was agreed to be received by the owner of the vessel and therefore, there was nothing wrong on the part of the appellant to declare that price in the Bill of Entry. We, thus, are of the opinion that the duty should have been as .....

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nya, Adv. For the Respondent : Ms. Nisha Bagchi, Adv., Mr. C. Mukund, Adv., Mr. Vivek Anandh, Adv., Ms. Sunita Rani Singh, Adv., Ms. Sujeeta Srivastava, Adv., Mr. B. Krishna Prasad, Adv. ORDER The appellant herein is engaged in business of ship breaking. It was a sole proprietorship concern of one Mr. Shivchand Gupta. He was operating from Bhavnagar, Gujarat. The appellant entered into Memorandum of Agreement (MoA) dated 23.08.2000 with the owner of one vessel for import of the said vessel for t .....

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