TMI Blog2003 (9) TMI 221X X X X Extracts X X X X X X X X Extracts X X X X ..... piece Assessed Value Unit per piece Assessed Value of Goods (Rs.) 1. ICD/26/02 13-5-02 336856 18-3-02 Blank Video Tapes US $ 0.78 (MRP Rs. 75/-) US $ 1.00 (MRP Rs. 100/-) 23,92,917/- 2. ICD/40/02 9-7-02 338790 10-5-02 Blank Video Tapes US $ 0.78 (MRP Rs. 75/-, 0.60 (MRP Rs. 65/-, 0.85 (MRP Rs. 85/-) US $ 1.00 (MRP Rs. 100/- 1.00 (MRP Rs. 100/- 1.40 (MRP Rs. 140/-) 23,01,022/- 3. ICD/51/02 9-8-2002 154903 20-6-02 Blank Video Tapes US $ 0.78 (MRP Rs. 75/-) 0.85 (MRP Rs. 85/-) 1.50 (MRP Rs. 150/-) 0.78 (MRP Rs. 75/-) US $ 0.95 (MRP Rs. 100/-) 1.10 (MRP Rs. 110/-) 1.50 (MRP Rs. 175/-) 1.00 (MRP Rs. 100/-) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2,79,972/- 14. ICD/180/01 20-10-01 328783 20-7-01 Maxell AAA Size Dry Battery SG $ 0.07 (MRP Rs. 5/-) Loaded by 10% (MRP Rs. 7/-) 1,61,451/- 15. ICD/71/02 9-12-02 2067 18-11-02 Tweeter/Speaker - Loaded by 20% 5,50,414/- 16. ICD/103/02 14-3-02 335152 24-1-02 Components for VCD Players : Unbranded Mechanism HK $ 35.10 HK $ 44.79 9,77,380/-" Unbranded PCB HK $ 51.00 HK $ 60.11 2. The imported goods in question are mostly consumer goods like blank video tapes, dry battery. Most of these imported goods were required to be marked with Maximum Retail Price (MRP) in terms ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the correctness of the loaded value. 4. We have perused the records and have heard the learned D.R. A perusal of the records of the case makes it clear that transaction values have been rejected and the goods assessed at enhanced value. No reason for the rejection of the transaction value or enhancement of value has been indicated by the assessing authority. It is well settled that transaction values constitute assessable value under the Customs Act. If the goods have to be assessed at a different value, the transaction value has to be rejected first based on the legally permissible grounds as indicated in the Valuation Rules. The assessee should also be put on notice that their transaction value is being rejected for the stated reasons a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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