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TMI Blog2018 (7) TMI 1295X X X X Extracts X X X X X X X X Extracts X X X X ..... ri. S. N. Mitra, A.C. (AR) for the Respondent (s) ORDER Per CORAM: Briefly stated the facts of the case are that the appellant had imported Zinc Plate from Bangladesh of irregular Shapes and Sizes. Notice was issued under Rule 12 of the Customs Valuation Rules, 2007 asking them to provide the details of the imported goods. The Adjudicating authority finalized the provisionally assessed Bills of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Adjudicating authority that LME prices related to Zinc of the highest purity (99.9%). We find that in the present case the purity of the Zinc is 87.2% and 88.3%. Therefore, the LME price is not comparable with the impugned goods. The Tribunal in the case of Jindal Strips Limited Vs. Commissioner of Customs, New Delhi 2001 (133) ELT 570 (Tri-Del.) observed that LME Bulletin Prices cannot be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i) of the Valuation Rules provide that the value shall be determined by proceeding sequentially through Rules 5 to 8 of the Rules. There is nothing on record to show that the transaction value falls under any of the exceptions mentioned in Rule 4(2). We observe that the only reason for not accepting the transaction value is that it is low as compared to the prevailing price quoted in Metal Bulleti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... citing any case of contemporaneous imports wants to enhance the value of the imported goods only on the basis of the LME price. We find substantial force in the submissions of the ld. Advocate that the LME Prices cannot be the sole basis for enhancing the value for the purpose of assessment. Similar views were expressed by the Tribunal in the case of Ruchi Associates v. Collector of Customs, 1992 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a general quotation". 5. It has been the view of the Tribunal in the case of S.K. Electronics v. Commissioner of Customs, 1998 (98) E.L.T. 668 that the transaction value cannot be rejected in absence of any contemporaneous import. Accordingly, we set aside the impugned order and allow the appeal." 4. We find that the LME price of Zinc having 99.9% purity is not comparable with the imported zinc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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