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TMI Blog2007 (3) TMI 139X X X X Extracts X X X X X X X X Extracts X X X X ..... cture of adhesives and sealants. They are also engaged in trading of adhesives and coating solutions such as primers. The joint venture was formed in the year 1996 and Anabond has been engaged in the import of raw materials required for manufacture of adhesives and sealants and also import of adhesives and coating solutions from Essex. Essex had subsidiaries in France, Germany and Switzerland. Essex and its subsidiaries have since been taken over by M/s. Dow Chemicals International USA. 2. In the subject appeal the issue involved is valuation of raw materials and finished products imported by Anabond from Essex. Two rounds of litigations at the lower level had culminated in an Order-in-Appeal disposed by a remand order of the Tribunal. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce in the instant case the imported goods were inputs in the manufacture of final products and the imported goods lost their identity in the process of production, the Rule 7(3) was not applicable. Before the lower appellate authority they had established by evidence of import that in respect of one raw material Vestolite E-7033, the invoice price of Essex was much higher compared to invoice price of the manufacturer from whom their joint venture partner also had sourced the material. It was on record that as per a certificate of Essex Anabond had furnished to the lower appellate authority, that the invoice price was their purchase price plus mark up. The lower appellate authority refused to accept their plea to treat the invoice price for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .e. coating solutions/primers also. Appearing on behalf of the appellants, ld. Consultant reiterated the written submissions and in addition produced documentary evidences of import of Polyetheramine at a unit price of US $ 3.98 by a party in Mumbai which was interchangeable with Jeffamine D-2000 which they had been importing at a unit price of US$5.11 from Essex. Ld. Consultant produced relevant Bills of Entry. He submitted that as a prudent importer, the appellants were trying to identify imports of the impugned raw materials by other persons in India from sources other than Essex and prayed that in view of the evidence in respect of Vestolite E-7033 and Jeffamine D-2000, their appeal to accept the invoice value for imports of all the raw ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll be open to the appellants to produce evidences of contemporaneous imports of identical or similar goods also to enable the assessing authorities to value the remaining goods in terms of the said rule. 6. As regards their appeal in respect of finished products other than adhesives, we find from the Chemical Intelligence Trade Weekly furnished be Ire the lower appellate authority, that coating, solutions/primers are usually I imported at a lower price compared to the price of the same items charged by Essex for imports by appellants. The appeal is thus allowed in respect of the coating solutions/primers and the two raw materials Vestolite E-7033 and Jeffamine D-2000 imported by Anabond. In respect of the valuation of the remaining it ..... X X X X Extracts X X X X X X X X Extracts X X X X
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