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TMI Blog2004 (7) TMI 550X X X X Extracts X X X X X X X X Extracts X X X X ..... Shri S.S. Bhagat, SDR, for the Respondent. [Order per : S.S. Sekhon, Member (T)]. - Heard both sides and considered the matter. It is found that - (a) Proceedings were launched pursuant to an intelligence to the effect that 'Vinyl Sign Cutting Machines' were being imported by grossly undervaluing the same. Enquires were caused and notice were issued to the appellants herein. (b) One machine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se machines and other goods effected by other firms. M/s. Arrow Coated (P) Ltd., were found to have imported 6 different models of Vinyl Cutting Machines. A copy of Price list of the supplier was also recovered. (d) Statement of Shri Shilpan Palel, who was the Managing Director of M/s. Arrow Coated (P) Ltd., ACPL & PPL recorded revealed, that he did not have any authentic price list in his posses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppliers, and were at lower negotiated prices for Demo machines. (e) The adjudicator, after accepting the plea of the machines being Demo models, concluded that "the price at which the subject machines was procured were introductory prices" they admittedly were not at true market value of the machine, as per Price List of the manufacturers. The intent to provide & improve the business of the suppl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t ruling in case of Basant Industries - 1996 (81) E.L.T. 195 (S.C.) and we find force in reliance on the decision of Eicher Tractor Ltd., 2000 (122) E.L.T. 321 (S.C.) placed by the appellants to hold that transaction value as per invoices in this case has to be accepted it cannot be departed from. (h) Consequently the duty demands, consequent liability to confiscate and penalty cannot survive. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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