2004 (12) TMI 581

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..... er : S.S. Kang, Vice-President]. The appellant vide letter dt. 19-12-2004 made a request to decide the appeal on merits. 2. Heard ld. DR. Brief facts of the case are that the appellant made import of a ship for breaking purpose. The appellant entered into an agreement with the supplier of ship regarding sale of the ship for a price of US $ 9,30,000/-. The ship was arrived at Alang Anchorag .....

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..... morandum of agreement, therefore, enhanced value ship is not sustainable. 4. We have gone through the memorandum of agreement dt. 10-12-98 which is for the price of US $ 9,30,000/- and as per condition of the agreement, the buyer have the option to ask for proportionate reduction in purchase of price if the vessel suffer partial damage as to effect vessel s light weight or break-up value due to .....

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