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2004 (10) TMI 453

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..... : S.S. Kang, Vice-President]. Appellants filed this appeal against the order in appeal filed by the Commissioner (Appeals). 2. The appellants made an import of Gambier during the period 7-3-98 to 3-4-98 and filed six Bills of Entry declaring the value of US $ 1850 to 2075 M.T. The Revenue did not accept the value declared by the appellants and issued a show cause notice for enhancing the .....

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..... currency and prices were fluctuating on day to day basis. The appellants relied upon the Paper written on Indonesian Economy, where it was mentioned that, on July 1997, the exchange rate of Indonesia Rupiah was 2431 per US dollar and, thereafter, began to depreciate and in January, 1998 the exchange was around 12000 per dollar. In these circumstances, the value declared by the appellants was the .....

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