2003 (12) TMI 412

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..... .K. Pardeshi, DR, for the Respondent. [Order per : Gowri Shankar, Member (T)]. The application is for waiver of deposit of duty of Rs. 3,41,971/- and a penalty of Rs. 1 lakh. 2. The duty has been demanded and penalty imposed on the consignment of pharmaceutical samples of medicament that the applicant cleared on the ground that their value has been underdeclared. The applicant valued t .....

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..... ection (1) of Section 4 of the Act that would apply. The two possible alternatives that we have are - either valuation on the basis of the value of identical goods cleared for home consumption, or application of Rule 8. The Counsel for the applicant accepts that the former method would result in higher value. In this situation, we prima facie uphold the application of Rule 8. Therefore, taking not .....

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