9911796707
TMI Blog1996 (3) TMI 293X X X X Extracts X X X X X X X X Extracts X X X X ..... in February, 1985. The Customs authorities loaded the declared invoice value of Stg. 1,075.00 per M.T. to Stg. 1123/- per M.T. for assessment purposes, on the ground that the leading is required to be done to maintain uniformity. The Assistant Collector rejected the value based on the contract under Section 14(1)(a) of the Customs Act, 1962 on the ground that the deemed value of copper wire-bars at the time of place of importation based on several actual imports of these goods is 1123/- per M.T. and therefore, this has been treated as the deemed value of goods at which the goods are ordinarily sold at the time and place of importation, when the consignment of the importer is presented for assessment. The ld. Assistant Collector conclu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e as prevailing during the time and place of importation can be adopted in view of all other import during that period being at a higher price. 4. We have carefully considered the submissions and have perused the impugned order. The appellants have contended in the appeal memo that majority of the import relied by the lower authorities are that of MMTC, who buys the goods on the basis of monthly average price of copper as quoted on the London Metal Exchange, while the appellants had purchased the goods on day-to-day spot prices. As the basis for contractual price in both the cases is different, there cannot be any visible comparison between them. It is state that their contract was concluded on 24th Oct., 1984 and the shipment was made on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filed a copy of the rates of the goods issued by Bombay Metal Exchange Ltd. by its Bulletin No. 11/84, dated 20-11-1984. This bulletin also shows the varying prices in the month of Oct., 1984 in respect of copper wire-bars and other metals. The range has been varying day-to-day and fluctuating and on a few days, it has gone up and come down. Therefore, in a circumstance like this, the question that arises for consideration is as to whether the contract price can be rejected and a varying prices i.e. highest or lowest of the other importers are required to be taken for the purpose of assessment. In our opinion so long as this factor is available and that there is no challenger to the genuineness of the contract, then Section 14(1)(a) is req ..... X X X X Extracts X X X X X X X X Extracts X X X X
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