9911796707
TMI Blog1994 (12) TMI 246X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the declared price was not the normal price in the course of international trade. 3. The appellants M/s. Parekh Dyechem Industries Pvt. Ltd. imported a consignment of 20 M.T. Polyvinyl Alcohol Polysizer-173 at unit price of US $ 1,575 PMT CIF, Bombay. The suppliers of the goods were M/s. Nagase Co. Ltd. Japan and the goods were supplied as per invoice No. C-11375, dated 24-9-1982. Similarly the appellants M/s. Pidilite Industries Ltd. imported a consignment of Polyvinyl Alcohol Polysizer 173 from the same suppliers at unit price of US $ 1550 PMT CIF Bombay as per invoice No. C-11477, dated 8-10-1982. The Assistant Collector has rejected the invoice value and determined the value observing price of similar goods imported from the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on was at arm s length and no extra commercial consideration has been passed the price at which the goods ordinarily sold is the value as envisaged under Section 14(1) of the Act and there was no justification for rejecting the invoice value. Apart from these contentions, he said that in the case of Pidilite Industries Ltd. since the price had fallen considerably the price was reduced by 25 Dollars and lower price was offered in tune with the commercial practice since the prices have gone down before shipment of the goods. 5. Shri B.K. Singh, leanred SDR while countering the arguments submitted that Section 14(1)(a) refers to deemed value. Accordingly, the normal price ordinarily charged in the course of international trade is the price t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d reducing the value with reference to invoice, dated 24-9-1982. 6. We have considered the submissions. We find that the date of import in both the cases is prior to the introduction of new Valuation Rules with reference to Section 14(1)(a) of the Customs Act. Transaction cannot be doubted in these cases since letter of credit was duly opened by the appellants and each of them imported 100 M.T. as can be seen from the evidence placed on record. We also take note of the fact that on 23-8-1982, the supplier has sent a telex to their indentors wherein they have accepted offer for 100 M.T. and the same price is not available to smaller quantity. The contents of the telex are as under :- ZCZC BOMAC TYCIADN TO ASSO FROM CID-1 23-8-1982 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
