TMI Blog2002 (6) TMI 125X X X X Extracts X X X X X X X X Extracts X X X X ..... ported goods had been undervalued causing of short-levy of custom duty of over Rs. 21 lakhs duty demand and penalties are consequent to this finding. 2. The only material relied upon for reaching a finding regarding undervaluation is the price of comparable goods imported by M/s. Jay International. While the appellant's imports were at Delhi, the imports of Jay International were carried out at Bombay. 3. The appellants have contested the findings and duty demand on merits as well as on the issue of time-bar. On the issue of time-bar, the appellant's submission is that the demand in respect of 6 out of the 7 consignments has been raised beyond the normal time-limit, even though none of the factors (collusion, wilful misstatement or supp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of the goods unless such value falls in the category of exceptions stipulated in the Valuation Rules themselves. The appellants have also pointed out that import of goods at a higher value by some other importer is no criterion for rejection of the transaction. 5. Apart from the above legal position, the appellant has also submitted that the material relied upon by the Commissioner, comparable value of certain varieties of musical instrument imported by M/s. Jay International, was not sufficient for revision of assessable value. It has been emphasized in particular that comparable value was not available for several varieties like CTK 501, CTK 520L, CTK 620L, WK 1200, CTK 401, CTK 511, CTK 601, CTK 485 and CTK 611 imported by the appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 112 of the Customs Act in regard to imposition of penalty. He also pointed out that once the values were found to be misdeclared extended period was also rightly invocable. 7. In the present case, the revaluation has been undertaken based on the price of imports by another importer. The prices mentioned in the appellant's import invoices and the declarations made by them in the import documents have been challenged based solely on the import prices of another importer at Bombay. There is no material casting any doubt that the prices mentioned in the invoices represented the true transaction value. There is also no material that the appellant declared a lower value than the transaction value. It is normal that prices vary from cus ..... X X X X Extracts X X X X X X X X Extracts X X X X
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