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TMI Blog2013 (12) TMI 464X X X X Extracts X X X X X X X X Extracts X X X X ..... not sustainable as the same has not been challenged by them - it is a second-hand machine and has imported by the appellant on negotiated price from the Belgium trader. The invoice price shown by the appellants has also been supported by two Chartered Engineers one from the supplier side and one appointed by the Revenue to ascertain the price of the imported machine. As both the Chartered Enginee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ne Tester Model R 375-10000. The value of the said goods was declared as Rs. 2,60,79,210/- the supplier was Gauder. S.A. Rue De La Revision, 93 B-4032 Chenee (Liege) Belgium. The goods were examined and found that machine seems to be new one. Therefore, to ascertain the true price of the machine, a chartered accountant was engaged namely, Best Mulyankan Consultants Ltd. The Chartered Accountant ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... port, the Belgium supplier also provided a Chartered Engineer certificate which shows that negotiated price is a reasonable price for the said machine. Then the Chartered Accountant appointed by the department also indicated the price is reasonable. Therefore, the loading of value by the ld. Commissioner is not sustainable. 4. On the other hand, the ld. AR strongly opposed the contention of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellants has also been supported by two Chartered Engineers one from the supplier side and one appointed by the Revenue to ascertain the price of the imported machine. As both the Chartered Engineers have certified that the price of the imported machine in the invoice is reasonable. 8. In view of these observations, the charge of undervaluation is not sustainable and there is no question of lo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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