CC Vs. DEEP ENTERPRISES

JUDGEMENT

(1.) IN this appeal of the Revenue, the challenge is directed against the valuation done by the Commissioner (Appeals) in respect of the consignment of watch parts imported by the respondents and cleared under bill of entry dated 25.4.1994 for home consumption. The importer had declared the value of the goods as Rs. 2,06,040/ -. The original authority enhanced the value to Rs. 11,48,003/ - on the basis of certain contemporaneous quotations gathered from other foreign suppliers. However, in appeal preferred by the party, the Commissioner (Appeals) set aside the decision of the lower authority and accepted the declared value of the goods under Rule 4 of the Customs Valuation Rules, 1988. The Revenue, in the present appeal, is aggrieved by this decision of the Ld. Commissioner (Appeals).

(2.) LD . DR Shri A. Jayachandran reiterates the view taken by the original authority, whereas Ld. Counsel for the respondents canvasses the view taken by the lower appellate authority, on the issue which has arisen before .us. Ld. Counsel has cited case law to substantiate the view taken by the lower appellate authority. He has cited the following decisions of the Tribunal:

(3.) LD . Counsel submits that the Apex Court has upheld both the above decisions of the Tribunal vide, 1997 (90) ELT A183 &, 1996 (84) ELT A47.