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TMI Blog2017 (6) TMI 841X X X X Extracts X X X X X X X X Extracts X X X X ..... one set of used offset press from M/s.New York Graphic, Inc. USA and declared the transaction value of US $ 12,250 (equivalent to Rs. 5,88,613) and filed necessary Bill of Entry No.466141 dt. 21.02.2003. Along with the Bill of Entry, importer enclosed an overseas Chartered Engineer certificate dt. 06.01.2003 issued by Informax Systems, Illinois. The Docks Intelligence Unit, Custom House, Chennai took up the consignment for investigation on receipt of intelligence regarding alleged under valuation. Suspecting the value, goods were got examined by a local Chartered Engineer, M/s.Superintendence Co.of India Pvt. Ltd. who vide report dt. 26.05.2003 assessed the value of the goods at US$ 78,500 (CIF) (equivalent to Rs. 37,71,925). The goods were ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e imported goods. He further submitted that the load port Chartered Engineer gives the year of make of the machines, the value of goods at the time of manufacture as well as value at the time of export. The import invoice as well as Chartered Engineer certificate bears the stamp of Indian Bank evidencing that only the invoice amount has been paid to the overseas supplier. Consequently, he argued that declared value merits acceptance. He also relied upon the Tribunal in the case of Anish Kumar Spinning Mills Vs CC Tuticorin - 2004 (172) ELT 394 (Tri.-Chennai) wherein the Tribunal has held that opinion of one expert cannot be rejected on the basis of another expert unless there is sufficient independent reason for such rejection. The said dec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the year of manufacture has been certified as 1988. However, neither accompanying invoices nor any other documents submitted by the importer evidences such year of manufacture of machines. 6. After perusal of the certificate given by the local Chartered Engineer as well as from the load port, we note that local Chartered Engineer was not in possession of any additional information to decide the valuation. Virtually, he has not given any reference to the technical manual or information based on which value of the machines have been reassessed. In fact, the local Chartered Engineer has indicated the year of manufacture as 1988 whereas the other local Chartered Engineer viz. V Line Engineers certificate dt. 22.02.3003 certifies that year o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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