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Commr. of Cus. & C. Ex., Tiruchirappalli Versus Hindustan Lever Ltd.

2016 (1) TMI 323 - SUPREME COURT

Valuation of import of soda ash light - declared price was lower than invoice price since the market price was down drastically - Held that:- It is clear from the above that in the show cause notice itself, the Department had accepted the fact that there was slump in the international market insofar as import of soda ash light is concerned. However, we find that the mistake which was committed by the Commissioner was to straightaway refer to the aforesaid Rules in order to arrive at the transact .....

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one at the time of delivery and place of importation or exportation. Thus, we are of the view that in the present case, the provisions of sub-section (1) of Section 14 are clearly attracted and there was no necessity of invoking the rules.

The documents clearly show the prevailing market rate of the goods in question in international market at the relevant period. On that basis, if the value of the goods was declared at USD 120 per M.T. by the respondent/importer, this was perfectly j .....

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lant herein issued show cause notice dated 29-7-1998 asking the respondent to show cause as to why the invoice price of the goods which was stated to be USD 153.50 per MT (C&F) will not be taken up for assessment in respect of the aforesaid import. The respondent filed its reply, inter alia, stating that at the time of importation, the market price of the goods had drastically come down because of the downward movement in the prices of the imported soda ash light and the price at the time of .....

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after referred to as Rules ) to arrive at transaction value of the goods. The respondent challenged the said Order-in-Original dated 27-8-1998 before the Commissioner of Customs and Central Excise (Appeals) who vide Order-in-Appeal dated 18-5-2001 rejected the appeal of the respondent. Aggrieved by the aforesaid order, the respondent filed appeal before the Customs, Excise and Service Tax Appellate Tribunal (hereinafter referred to as CESTAT ) and CESTAT had, vide its impugned decision, accepted .....

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he goods were contracted for import in the month of June 1997 and was shipped out on board the vessel Dastan on July 31, 1997. Due to series of events which occurred post the sailing of the vessel such as the vessel being caught up in storm and having to undergo extensive repairs, the consignment could not be delivered on time to the scheduled destination i.e., Tuticorin in India. Further they have stated that after the vessel was arrested on Jan 3rd 1998 they filed an application before the Sin .....

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artment had accepted the fact that there was slump in the international market insofar as import of soda ash light is concerned. However, we find that the mistake which was committed by the Commissioner was to straightaway refer to the aforesaid Rules in order to arrive at the transaction value. This could be permissible only if the case had been covered by the provisions under sub-section (1A) of Section 14 of the Customs Act, 1962 (hereinafter referred to as Act ). In order to demonstrate this .....

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r offered for sale, for delivery at the time and place of importation or exportation, as the case may be, in the course of international trade, where the seller and the buyer have no interest in the business of each other and the price is the sole consideration for the sale or offer for sale : Provided that such price shall be calculated with reference to the rate of exchange as in force on the date on which a bill of entry is presented under section 46, or a shipping bill or bill of export, as .....

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