9911796707
TMI Blog2013 (12) TMI 1092X X X X Extracts X X X X X X X X Extracts X X X X ..... ands made by the appellant. The question is as to whether for arriving at the correct assessable value of the second hand car based upon the value of the new car as reflected in the Parker's guide, the element of VAT is to be included or not - appellant has produced on record certificate from the parker's guide that price of the new cars listed in the guide are recommended retail price which are i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on record, the appellant brought a Mercedes Benz car from UK on transfer of residence basis. The dispute in the present appeal relates to the assessable value of the said car. The lower authorities have arrived at assessable value of the car based upon the value of new car available in the year of manufacture of the car as per the Parker's Car Guide value and after allowing the various depreciatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... does not arise in respect of import of second hand cars. Accordingly, the appellant claim that VAT would not be part of the value of new car, on the basis of which assessable value of second hand car is arrived stand rejected. Hence, the present appeal. 3. We have considered and appreciated the submission made by both the sides. The dispute in the present appeal does not relate to refund or othe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be included in the assessable value of the new cars. 4. We further note that appellant has produced on record certificate from the parker's guide that price of the new cars listed in the guide are recommended retail price which are inclusive of VAT and car tax. Further evidence stand placed on record that VAT during the relevant period in 1986 was 15%. As such according to declaration of law b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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