MANSI ENTERPRISES Vs. CC

JUDGEMENT

(1.) IN this appeal filed by M/s. Mansi Enterprises, the matter relates to the valuation of Bearings imported from Romania. The imports were effected in the year 1984 -85. The importers declared price on the basis of the 1983 price lists. The Collector of Customs, Bombay, who adjudicated the matter, observed that the letter of credit was opened on 28.6.1984 and the assessable values had to be determined on the basis of the 1984 price lists. He confiscated the goods and imposed the penalty.

(2.) WHEN the matter was called, none appeared for the appellants. The appellants have prayed for decision on merits.

(3.) WE have heard Shri K. Shiv Kumar, JDR for the respondents/Revenue and have gone through the facts and circumstances of the case.