Customs valuation turns on import-time price; post-import agreement did not defeat the Revenue's prima facie stay case.

In a customs valuation dispute over an imported vessel, the Tribunal held that a price agreed only after importation did not, on the face of the record, displace the prima facie relevance of the price available at the time of importation under Section 14 of the Customs Act. The Revenue's reliance on the timing of valuation and the Customs Valuation Rules, 1988 was found sufficient to establish a strong prima facie case for stay consideration. Stay of the lower appellate order was granted in favour of the Revenue.

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Issues: Whether the Revenue made out a prima facie case for stay of the order of the lower appellate authority in a customs valuation dispute.

Analysis: The controversy concerned the assessable value of an imported vessel. The Revenue contended that the price agreed after the importation could not govern valuation under Section 14 of the Customs Act, while the respondents relied on Rule 4 of the Customs Valuation Rules, 1988. The Tribunal noted that the lower price was not available at the time of importation and that the Revenue had shown a strong prima facie case on the valuation issue.

Conclusion: Stay of the impugned order was granted in favour of the Revenue.

Ratio Decidendi: For customs valuation, a price agreed after importation does not, on the face of the record, displace the prima facie applicability of the price available at the time of importation for purposes of stay consideration under Section 14 of the Customs Act.

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