9911796707
TMI Blog2005 (5) TMI 124X X X X Extracts X X X X X X X X Extracts X X X X ..... missioner of Customs (Appeals). The Revenue is aggrieved by the Commissioner's order. The issue pertains to assessable value of a vessel which is brought for breaking. 2. Briefly the facts are that a vessel "M.V. Ithaki" entered Alang anchorage on 14-11-2001. The shipping agent presented a copy of MOA dated 12-11-2001 entered into between the buyer and the seller (M/s. TDD Ship Breakers). The sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eing aggrieved by the said order, the importer filed an appeal before the Commissioner (Appeals) who in his order dated 9-9-2003 allowed the importer's appeal taking the view that the assessable value in this case has to be worked out on the basis of the MOA agreed between the seller and the appellant before him. Hence this appeal. 3. The Revenue's main contention is that the revised price canno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt, the same should necessarily be considered as the value of like goods available at the time of importation. It is argued that the Commissioner erred in holding that a price arrived at after the completion of import is acceptable under the provisions of Section 14 and the rules made thereunder. In the case of CC, Ahmedabad v. Guru Ashish Ship Breakers [2003 (157) E.L.T. 277], the Tribunal held t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de in the ordinary course of trade should be the value for the purpose of Customs Valuation Rules. In the present case, there is a definite indication as to the value at which the goods were transacted in the international trade. A distress sale is not sale in the ordinary course of international trade. Once the vessel has entered the territorial waters of India, the importation is complete. Any r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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