TMI Blog2001 (11) TMI 77X X X X Extracts X X X X X X X X Extracts X X X X ..... Santosh Hegde, J.]. - In a dispute pertaining to determination of the valuation of goods imported by the respondent herein from M/s. Rosemount Inc. USA, the Assistant Collector of Customs, Special Valuation Bench, Bombay, held that the respondent herein is a related person to M/s. Rosemount Inc. of USA, hence, it assumed that both the said companies are interested in the business of each other and that the prices are not the sole consideration. Therefore, it held that the valuation of the goods imported by the respondent herein from M/s. Rosemount Inc. USA will have to be done under Section 14(1)(b) of the Customs Act, 1962 read with the Customs Valuation Rules, 1963. The said authority refused to accept the CIF value of the goods imported ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nical data base for the manufacture of electronic pressure transmitters ipso facto did not make the two companies related persons. In the absence of any other material, the Tribunal held that there was no reason to reject the price declared by the respondent for the purpose of valuation. On the said basis, the Tribunal reversed the findings of the authorities below and allowed the appeal of the respondent. 4.It is contended on behalf of the appellant before us that M/s. Rosemount Inc. USA and M/s. Fisher Rosemount (India) Ltd., (the respondent herein) are related persons and have interest in the business of each other. Therefore, the valuating authority was justified in loading the declared value with extra 20%, more so because there was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion, the learned representative of the department argued that Maruti had an indirect interest in the business of Suzuki since Maruti was interested in technical knowhow from Suzuki not only for the current models and their components but also for future models and their components. We do not agree with the department's plea. The transfer of technical knowhow from Suzuki to Maruti is a separate commercial transaction governed by the Licence Agreement and Suzuki charges a price for it. That does not create an interest of Maruti in the business of Suzuki, Japan." 7.Based on the above finding, the Tribunal in that case had held that in the absence of any other material, it is not correct to load the import price. It also held in that case tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ck of acceptable material, then ipso facto the inference drawn from such conclusion also is liable to be set aside. If that be so, then there is hardly any other material to come to the conclusion that the CIF value declared by the respondent did not truly represent the correct value of the goods imported. 9.Shri Jaideep Gupta, learned counsel appearing for the appellant, pointed out that it is quite evident from the material on record that the CIF value of the goods imported by the respondent did not include the freight as could be seen from the documents available on record like the CIF value of the goods supplied by the said American Company to the other buyers at Australia and Singapore, hence, the authorities were justified in loadin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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