1999 (8) TMI 236

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..... hankar, Member (T)]. - The question for consideration in this appeal is the valuation of a consignment of tung oil imported by the appellant. The oil, which was of Argentine origin, imported in July and August, 1992; and value declared at US. $ 1050/- per M.T. C&F. Having regard to the importation of tung oil at Bombay at substantially higher prices the Department was of the view that the goods .....

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..... e in Section 14(1) is a deemed price, the price at which such similar goods are imported by persons not related. In the face of importation of identical and similar goods at very higher price and in the absence of justification for the lower price, the Collector was entitled to not to accept the transaction value. No difference in terms of specification or in their technical characteristics exist .....

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..... , qualities, grades, and of technical specifications to various customers. The fact of supplier being common, cannot justify the comparison of value. Further, the Valuation Rules themselves postulate comparison with value of identical goods failing which with similar goods. Similar goods are of the same country of origin, at which the goods being valued. Even if we accept the contention of the dep .....

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