TMI Blog2015 (12) TMI 857X X X X Extracts X X X X X X X X Extracts X X X X ..... tment is duty bound to convey to the respondent the name of the market, name of the address of the person from whom market inquiry was made, name of the product including brand name for which inquiry were made and retail sale price of the product item-wise of brand-wise. Further the method of arriving at the assessable value from the retail sale price needs to be supported with evidence. The department merely considered margin of profit of 50% and 25% at the retail and wholesale stage respectively without giving any supportive evidence as to how this percentage was arrived at. Another flaw in arriving at the assessable value is that although spectacles are said to be of various brands, when it came to the market inquiry the same retail pric ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat lower authority has not declared the source of market inquiry to the appellant resulting in violation of principles of natural justice. In the second round matter stands decided by Commissioner (Appeals) vide his order dated 1/4/2004. 2. The case is built by the Custom department on the import of spectacle parts under three Bills of Entry. Allegation of the Revenue is that the brand of spectacle (parts of which were imported) was not declared deliberately and that the parts make a complete spectacle frame. Revenue made some market inquiry and found that the spectacles made out of such spectacle parts as sold at the retail level at value of ₹ 2000/- per piece. In his statement before the Customs, the importer also admitted that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the impugned order, the Commissioner(Appeals) has clearly recorded that the Department is duty bound to convey to the respondent the name of the market, name of the address of the person from whom market inquiry was made, name of the product including brand name for which inquiry were made and retail sale price of the product item-wise of brand-wise. Further the method of arriving at the assessable value from the retail sale price needs to be supported with evidence. The department merely considered margin of profit of 50% and 25% at the retail and wholesale stage respectively without giving any supportive evidence as to how this percentage was arrived at. Another flaw in arriving at the assessable value is that although spectacles are said ..... X X X X Extracts X X X X X X X X Extracts X X X X
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