TMI Blog2022 (8) TMI 334X X X X Extracts X X X X X X X X Extracts X X X X ..... dum, and has proceeded to reject the appeal of the appellant. We may, however, add that the Commissioner (Appeals) did not examine the cogency of the reasons for price reduction. The Commissioner (Appeals) needs to examine the matter afresh. Accordingly, the impugned order is set aside, and the matter is remitted back to the Commissioner (Appeals) for fresh consideration, particularly in relation to the genuineness of the addendum entered into between the appellant and the supplier - Appeal allowed by way of remand. - CUSTOMS Appeal No. 12037 of 2015-DB - FINAL ORDER NO. A/10924 / 2022 - Dated:- 5-8-2022 - MR. RAMESH NAIR, MEMBER (JUDICIAL) AND MR. RAJU, MEMBER (TECHNICAL) Shri J.C. Patel and Shri Rahul Gajera Advocates for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d 25.08.2014, by which it was held that the transaction value of the Vessel has to be taken as USD 7,870,500/- which was mentioned in MOA dated 05.08.2013 and the Bill of Entry was finally assessed on that value. Being aggrieved, Appellant filed appeal before the Commissioner (Appeals), who vide impugned order upheld the assessment order. Against which the present appeal filed by the Appellant. 4. Shri J.C. Patel, learned Counsel appearing on behalf of Appellant submits that since the original price of USD 7,870,500/- mentioned in MOA dated 05.08.2013 was by agreement between the seller and the Appellant substituted by the reduced price of USD 7,695,500/- by Addendum dated 06.09.2013, prior to the delivery of the vessel on 06.09.2013 and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d narrows down to the question whether the transaction value of the vessel is to be price mentioned in the original MOA or the reduced price indicated in the addendum. We are of the opinion that in light of the statutory provisions, the factum of actual payment of the price in terms of the addendum cannot be ignored while determining the value of the vessel under Section 14 of the Act. We may, however, hasten to add that in such a situation the genuineness and the necessity of reduction in the price are required to be scrutinised very carefully. In the instant case, the Ld. Commissioner (Appeals) has not examined the genuineness of the addendum, and has proceeded to reject the appeal of the appellant. We may, however, add that the Commissio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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