OCL INDIA LTD. Vs. COMMISSIONER OF CUSTOMS, VISAKHAPATNAM

JUDGEMENT

(1.) DUTY of Rs. 55,454/ - has been confirmed against the appellant and penalty of Rs. 1.50 lakhs has been imposed by enhancing the assessable value of the goods imported by them.

(2.) SHRI D.L. Basu Roy, ld. Consultant appearing for the appellant prays for dispensation with the condition of predeposit of duty amount of Rs. 55,454/ - and penalty of Rs. 1.50 lakhs confirmed against the appellants by enhancing the assessable value of the goods imported by them.

(3.) AFTER hearing both the sides, we find that the Commissioner has enhanced the value of Magnesite Brick Grog of Chinese origin imported by the appellants from Hongkong based upon another invoice of the same foreign supplier. The value declared by the appellants at 92 US $ per M.T. has been enchanced to US $ 102 per M.T. We find that the other invoice relied upon by the Revenue cannot be called a contemporaneous evidence of import in as much as there is a gap of about four months between the present import and the earlier import represented by the relied upon invoices. Apart from this, the earlier invoice relates to import of 100 M.T. of the goods whereas the appellants have imported almost more than double the quantity. It has been shown to us by referring to the correspondence between the importer and the foreign supplier that the price was brought down by the foreign supplier on the instance of the importers based upon the various business consideration. Accordingly, we feel that the appellants contention that transaction value should be accepted as the correct assessable value is acceptable on merits. Accordingly we set aside the impugned order and allow the appeal in accordance with law.