OSWAL FATS AND OILS Vs. CC

JUDGEMENT

(1.) THE appellant is a manufacturer of soap. It imports Palm Acid Oil for use in the said manufacture.

(2.) NINE consignments imported by the appellant during the period July to December 2000 were provisionally assessed based on the purchase prices and released. Subsequently, for finalization of the provisional assessments, transaction values were rejected and it was ordered that these consignments shall be assessed at a uniform assessable value of 260 US PMT, even though purchase prices varied from 113.50 US to 170 US . The consignments were also confiscated for the offence of misdeclaration of value (Section 111(m) of the Customs Act) and penalties imposed {Section 112 (a)}.

(3.) THE reason for adopting the higher price for final assessments is that two imports of Palm Acid Oil at 260 US had been made in July and October 2000 by another party. Thus, the basis for the order is the price of comparable imports.