2016 (11) TMI 338

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ginal, the value was revised and the 20% was loaded on the basis of the agreement dated 26.3.1996 for the subsequent period. Even though this agreement was entered into by the appellant with the foreign supplier, but this agreement has not changed the circumstances prevailing at the time of import by the appellant. Therefore, only on the basis of this agreement, the value could not have been enhan .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 2. Shri T.R. Rustogi, learned Advocate with Shri Aashish Chouhan, Advocate, appearing on behalf of the appellant, at the outset, submits that in respect of the import made in the year 1980-81 based on the situation at the prevailing time, the department has passed the order. Accordingly the value declared by the appellant was accepted. At the time of import, there was no agreement of the appe .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ed on the basis of the agreement dated 26.3.1996 for the subsequent period. Even though this agreement was entered into by the appellant with the foreign supplier, but this agreement has not changed the circumstances prevailing at the time of import by the appellant. Therefore, only on the basis of this agreement, the value could not have been enhanced for the previous import. We are of the cle .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X