UTTAMCHAND SUNDERLAL Vs. COMMISSIONER OF CUSTOMS

JUDGEMENT

(1.) Appellants filed this appeal against the order in appeal filed by the Commissioner (Appeals).

(2.) The appellants made an import of Gambier during the period 7 -3 -98 to 3 -4 -98 and filed six Bills of Entry declaring the value of US 1850 to 2075 M.T. The Revenue did not accept the value declared by the appellants and issued a show cause notice for enhancing the value to US 2200 M.T. on the basis of invoices issued by M/s. Trusha International Pvt. Ltd. and Ratan Singh and Co. Pvt. Ltd. The contention of the appellants is that contemporaneous imports relied upon by the Revenue cannot be made basis for enhancing the value of the goods as the imports are not comparable to the import made by the appellants.

(3.) The contention is that the quantity mentioned in the invoices relied upon by the Revenue is 9 -10 M.T. and whereas the appellants made an import of consignment which are 20 -40 M.T. Further, the appellants made an import directly from Indonesia, whereas these invoices relied upon by the Revenue relates to the import made from Singapore. The appellants also pleaded that during the period in dispute, there was a great fluctuations in the Indonesia currency and prices were fluctuating on day to day basis. The appellants relied upon the Paper written on Indonesian Economy, where it was mentioned that, on July 1997, the exchange rate of Indonesia Rupiah was 2431 per US dollar and, thereafter, began to depreciate and in January, 1998 the exchange was around 12000 per dollar. In these circumstances, the value declared by the appellants was the correct value.