2000 (9) TMI 373

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..... The appellants purchased a consignment of copper wire bars, which was sold to it on the high seas by the importer, Rupam Holding Pvt. Ltd. (Rupam for short). The price of these goods in the invoice issued to the latter by the foreign supplier was US $ 49068.65 CIF. The assessable value based on this price works out to Rs. 15,79,412/-. The appellant, in the bill of entry filed by it, claimed the .....

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..... rals and Metals Trading Corporation, which sold the goods on the high seas and the purchaser on the high seas that is to be taken into consideration in such cases. Applying the ratio of this decision, it is the price at which Rupam sold the goods to the assessee that would form the assessable value. The situation could be different if it was shown that the value of the high seas transaction was ma .....

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