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TMI Blog2008 (10) TMI 415X X X X Extracts X X X X X X X X Extracts X X X X ..... en remanded to the original authority to finalise the provisional assessment prior to initiating any penal action. 2. Heard both sides. 3.1 The relevant facts, in brief, in party s appeal No. C/605/2007 are as follows : (a) M/s. Radiant Acrylic imported a consignment and filed bill of entry No. 50 dated 10-6-96; declared the description as acrylic sheet off cuts; declared the value as US $ 308 per M.T.;declared the net quantity as 47,739 kg. and overall value as Rs. 5,45,685/-. (b) On examination, in addition to declared quantity of acrylic sheet off cuts, it was found to contain multi-wall panels weighing 4730 kgs. (c) In pursuance of the order of remand, the original authority finalized the assessment enhancing the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hipped from Belgium party to India as per advice by the Singapore Party. (b) The relevant transaction is the one between the Indian importer and the Singapore based supplier. The Singapore party and Indian importer have entered into a oral contract at a price of 308 US $ per M.T. There is no evidence that the importer in India has sent any money in excess of what has been mentioned in the invoice raised on them by the Singapore party. (c) At what price the Singapore supplier purchased the consignment from the Belgium party is not relevant. The documents collected by officials of Indian High Commission through Belgium Customs regarding the export declaration and invoice of the Belgium party to the Singapore party cannot be relied ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s supplier seeking any explanation for the said unusual transaction. 6.2 If the invoice price by Belgium party to the Singapore Party is correct then the invoice price by the Singapore Party to the Indian importer, obviously cannot be correct. A suggestion was made by the Belgium party might have over-declared the value to avail export incentive. This suggestion has to be ignored, as the Belgium Customs authorities who have conducted checking of origin and value of acrylic sheet exported to India have not suspected the price declared to them by M/s. Gemini Corporation. 6.3 Theoretically, the price declared by Belgium exporter could be wrong or the price declared by the Indian importer could be wrong. Both cannot be correct and one of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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