1991 (6) TMI 131

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..... T)]. The appellant imported a second hand Toyota Corolla Sedan LE-4-Dr 1985, model CC 1587 car on 17-6-1986 against CCP No. 3079296 dated 19-9-1989 and filed Bill of Entry No. 109885 dated 7-10-1989 for its clearance. Since the car was not listed in the 1985 World Car Catalogue, the Asstt. Collector based its assessment on the ex-works price of 1985 Model Toyota Corolla SR-4-Dr 1600 CC car w .....

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..... ved at by the Asstt. Collector and the air-conditioner and radio cassette player not having been taken as standard equipment of the car was rejected by the Collector (Appeals). 2. On behalf of the appellant we heard the learned Consultant Shri N.C. Sogani. He contended that price of Toyota Corolla SR-4-DR 1600 CC on which the assessable value of the imported car was based was a superior model wi .....

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..... there was no justification for imposition of any redemption fine. 3. On behalf of the department the learned JDR Shri Satish Kumar claimed that the assessable value arrived at on the basis of the price of a similar car in the World Car Catalogue was reasonable. He contended that the air-conditioner and radio cassette player being accessories were correctly assessed on merits. 4. We have gone .....

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..... ever, if the price of any particular vehicle is not reported and valuation is determined on the basis of the price of a similar car it would be necessary to make suitable adjustment in the price keeping in view the relative engine capacity and other relevant factors. We are, therefore, of the view that it would be reasonable to determine the ex-works price of the imported Toyota 1985 Corolla LE-4- .....

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..... and the ex-works price of the vehicle was not inclusive of the price of these items. 6. We also find that the shortfall in the face value of the CCP being nominal there was no justification for imposition of any fine in lieu of confiscation. We, therefore, set aside the order passed by the Assistant Collector imposing a fine of Rs. 2,000/- in lieu of confiscation. 7. In view of the foregoing, .....

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