2001 (9) TMI 173

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..... reasons : The lower authority had observed in his findings that the recorded price of similar goods ranged from US $ 750/MT to 840/MT for the 3 months prior to the import of the impugned goods. But while enhancing the value of the goods, the lower authority adopted PLATT prices by enhancing the declared value of US $ 700/MT to 720/MT enforcing Rule 6 of CVR, 1988 on the basis that the previous recorded price of similar goods are much higher than the PLATT prices. As per Rule 6 of CVR, 1988 the value of imported goods shall be the transaction value of similar goods sold for export to India and imported at or about the same time as the goods being valued. In the instant case, when only the value of similar goods should have been adopted u .....

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..... eal should be either allowed or kept pending. 3. Shri MS Kumaraswamy, learned Consultant for the respondents submitted that the Commissioner (Appeals) has thoroughly analysed the facts of the case and the order-in-original which sought to compare the goods which originated from countries except Portugal. Further the Commissioner (Appeals) has relied upon the judgment of the Hon'ble Supreme Court in the case of Eicher Tractors Ltd. v. CC, Chennai reported in 2000 (122) E.L.T. 321 (S.C.) in which it has been held that unless there are contemporaneous imports, the invoice price cannot be discarded as the transaction value within the meaning of Rule 3 and 4 of the Customs Valuation Rules, 1988. He further submitted that the department has als .....

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..... asis in the absence of instances of contemporaneous imports and as no clear and convincing evidence to prove any fraud in the declared values is led with respect to HDPE (IG) and HDPE (FG). In the case of Hind Afgan (supra) it was held that price ranges in Financial Journals are not relevant as acceptable transaction values. Since PLATT's report is also merely a similar journal, the ratio of the said decision is applied. 5. It would be seen that the Tribunal has categorically held that unlike London Metal Exchange, where actual trading of metal takes place, i.e. transactions are involved, and which are reflected in its LME bulletin, the PLATT's price report is not based on transactions but merely is a compilation of price ranges of variou .....

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