9911796707
TMI Blog2000 (10) TMI 454X X X X Extracts X X X X X X X X Extracts X X X X ..... the Respondent. [Order per : Gowri Shankar, Member (T)]. - The question for consideration in this appeal is the determination of the assessable value of 7200 metric tonnes of high density polyethylene, imported by the appellant in two lots of 330 metric tonnes and 390 metric tonnes. The two consignments arrived in Bombay in December 1994. The importer indicated the assessable value to be US $ 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tal quantity of 1000 metric tonnes. Subsequently the shipment period was extended, and the quantity sold reduced. 4. The Commissioner, adjudicating on the notice issued to the importer proposing increase in value, confiscation of the goods and imposition of penalty on the ground of misdeclaration, did not accept this contention. He emphasised that the contract entered into on 10-6-1994 did n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulties with that manufacturer that the quantity was reduced, and the period of shipment extended. He points out that a consignment of 45 tonnes, shipped in pursuance of this contract on 30-8-1994, which arrived in November 1994, was cleared at the declared value. Similarly, 267 tonnes of the same product was cleared in September 1994 at the price of US $ 570, determined in pursuance of another con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m Izmail port (Ukraine) on 25-8-1994, if not by a vessel leaving on 5/10th August, 1994 and informs him that when space is booked firm, the appellant would be asked to open a letter of credit. A fax of 6-7-1994, asked the appellant to prepare to open a letter of credit for US $ 575,000/-. It was only on 22-7-1994 that the supplier informed the appellant that the plant stopped production due to lac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsaction value therefore does not appear to us to be correct. The fact that part of this consignment has already been assessed and cleared at the originally agreed price, as also the acceptance of the same value as that declared for the consignment under consideration for a quantity of 567 metric tonnes cleared in September, 1994 in pursuance of a contract dated 7-6-1994, three days prior to the c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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