1999 (11) TMI 284

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..... ere bearings manufactured by different manufacturers in Czechoslovakia, Russia and Rumania. The total value of the goods was declared at US$ 9248.55. The show cause notice alleged that the fair value was US$ 20,189.87 placing reliance on extracts of price lists annexed thereto. Before the Commissioner it was claimed that similar brands were being imported and were being cleared at Mumbai at rates declared as in this case. It was claimed that the local prices of these goods would show that the declared prices were correct. It was claimed that for certain specifications where the price was shown in some other currency the value adopted was in dollars. It was claimed that the price list showed a much higher value for goods of the same specific .....

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..... v. C.C. - 1994 (74) E.L.T. 39 (Tribunal) 6. Sawhney Export House (P) Ltd. v. C.C. - 1992 (60) E.L.T. 327 (Tribunal) 7. Vellore Roller Flour Mills Pvt. Ltd. v. C.C. - 1991 (56) E.L.T. 659 (Tribunal). 3. Shri Ramteke relies upon the judgment cited by the Commissioner. 4. We have carefully considered the submissions, seen the annexure to the show cause notice and perused the price lists. 5. In terms of the Valuation Rules, the transaction value as indicated by the invoice is to be accepted for the purpose of assessment. Where the transaction value is found not acceptable then the transaction value of similar goods is to be adopted after making necessary adjustments. In examining the applicability of the transaction value or value .....

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..... to this price list although relied upon. Shri Balani suggests the reason to be that if this list is followed, some of the prices quoted by him could be higher than the prices quoted in the price lists. The other price lists show values in US dollars. None of the citations indicates the source. Although some price lists show the year, most of them do not show the time-frame for which these price lists would apply. The country in which these goods were manufactured are also not apparent on the face of the price list. Some rates are quoted without showing the identity of the person quoting the rates. The quotation does not show the manufacturer s name. No reference is made in the Commissioner s order to these quotations. 9. On perusal we fin .....

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