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TMI Blog2017 (1) TMI 1305X X X X Extracts X X X X X X X X Extracts X X X X ..... ntial duty of Rs. 12,90,947, on consignments covered by bills of entry no. 3579164/23.5.2011, 457789/ 15.4.2009 and 2818097/21.2.2011, was confirmed along with interest thereon. The goods under import in bill of entry no 3579164/23.5.2011 were confiscated and allowed to be redeemed on payment of fine of Rs. 8,00,000 while the imports against the other two bills were held to be liable to confiscation under section 111 (m) of Customs Act, 1962. Penalty of Rs. 12,90,942 was imposed on importer under section 114A of Customs Act, 1962 and Rs. 5,00,000 on Shri Bhavesh Shah Kishore under section 112 (a) and section 114A of Customs Act, 1962. First appellate authority upheld the said order. The appeals of M/s Innobiz Electronics Pvt Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hether the provisions of section 4A of Central Excise Act, 1944 will be applicable as to render the assessment of additional duty of customs to be levied on the 'maximum retail price. ' 4. It appears that the investigation agency accessed the computer records of the appellant-importer and managed to retrieve an e-mail It was held by the original authority that, in view of admission by the partner Shri Bhavesh Shah that invoiced amount was US$ 9.35 and US$ 11.78 per piece, the goods were undervalued leading to rejection of declared value for assessment as transaction value. 5. On a perusal of the impugned order, as well as order-in-original, we find that the declared value was not found acceptable as transaction v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... set out in Rule 4 (2). Payable in the context of the language of Rule 4 (1) must, therefore, be read as referring to the particular transaction and payability in respect of the transaction envisages a situation where payment of price may be deferred. That Rule 4 is limited to the transaction in question is also supported by the provisions of the other Rules each of which provide for alternate modes of valuation and allow evidence of value of goods other than those under Assessment to be the basis of the assessable value. Thus, Rule 5 allows for the transaction value to be determined on the basis of identical goods imported into India at the same time; Rule 6 allows for the transaction value to be determined on the value of similar goods imp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... packed in retail cartons which could be assembled at the buyer's kitchen and hence are 'induction cookers' liable to additional duty as per section 4A of Central Excise Act, 1944. Learned Authorized Representative places reliance on the decision of the Hon'ble Supreme Court in Collector of Customs, Bangalore v. Maestro Motors Ltd [2004 (174) ELT 289 (SC)]. This decision has acknowledged that rule 2(a) of General Rules of Interpretation of the Harmonized System of Nomenclature enables the classification 'knocked down' assemblies as the finished product itself. We are in agreement that the test of classification will be subject to conformity with this rule. However, at the same time, we cannot but take note of the obje ..... X X X X Extracts X X X X X X X X Extracts X X X X
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