Transaction value for imported vessel disputed where addendum and survey report failed to support reduced invoice value.

Reduced invoice value shown in an addendum was treated as doubtful evidence of the transaction value for assessment of an imported vessel, because the sale documents described the vessel as a woodchip carrier and the survey report did not support the alleged misdescription involving double-bottom tanks. The inadequately drafted addendum was therefore not accepted at face value for valuation purposes. Interim relief was granted and operation of the impugned valuation order was stayed to that extent.

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Issues: Whether the reduced invoice value reflected in the addendum could be accepted as the transaction value for assessment of the imported vessel, and whether the impugned order on valuation called for interim interference.

Analysis: The sale documents described the vessel as a woodchip carrier and did not indicate any tanks or any use consistent with the alleged misdescription of double-bottom tanks. The addendum reducing the value was viewed as inadequately drafted and unsupported by the survey report, which also made no reference to tanks. In these circumstances, the authenticity of the addendum and its use as proof of transaction value was found doubtful.

Outcome: The application for stay was allowed and the operation of the impugned order was stayed insofar as it related to valuation.

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