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TMI Blog2011 (3) TMI 266X X X X Extracts X X X X X X X X Extracts X X X X ..... mporary import value. It is submitted that the value declared in the relevant bill of entry covering the contemporary import of identical goods was, in fact, Euro 179 per cubic metre and not US$ 179 per cubic metre - Appeal is dismissed - C/576/2003-Mum - - - Dated:- 16-3-2011 - Mr. P.G. Chacko, Mr. Sahab Singh, JJ. Shri V.K. Singh, Authorised Representative (DR),for respondent Shri Pathak, Advocate, for appellant Per: P.G. Chacko In this appeal filed by the Revenue, the challenge is against the decision of the learned Commissioner (Appeals) regarding the assessable value of the goods imported by the respondent. The respondent had imported a consignment of Plain Medium Density Fibre Board-Commercial Grade measur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to US$ 179 per cubic metre (CIF) under Rule 5 ibid. Aggrieved, the party preferred an appeal to the Commissioner (Appeals) and the latter accepted the documentary evidence produced by the assessee and held that, as their own contemporaneous imports of identical goods from the same supplier at the same value of US$ 120 per cubic metre were being accepted in the same Customs House, there was no reason to deviate from the practice. The appellate authority, further, found the lower authority s order to be non-speaking. In the result, the declared value of the goods came to be accepted. The present appeal of the Revenue is against the decision of the Commissioner (Appeals). 2. Apart from reiterating the grounds of this appeal, the learned SD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmitted a mistake in the context of adopting the contemporary import value. It is submitted that the value declared in the relevant bill of entry covering the contemporary import of identical goods was, in fact, Euro 179 per cubic metre and not US$ 179 per cubic metre. This fair submission made by the learned SDR makes a whole lot of difference inasmuch as the exchange rates of Euro and US$ vis-`-vis Indian Rupee at the relevant point of time were substantially different. No more reason is required to uphold the learned appellate Commissioner s order setting aside the order-in-original. 4. For the aforesaid reasons, we have to sustain the impugned order and it is ordered accordingly. The appeal of the Revenue gets dismissed. - - Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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