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Valuation of imported goods - Cement Carrier ship - The Tribunal accepted the value assessed by the Chartered Engineer at Rs. 27 Crores, overturning the adjudicating authority's re-determined value. The court found the inclusion of transportation, insurance, and handling charges unjustifiable, citing legal precedents and the absence of evidence to support such costs for vessel imports. - Consequently, the additional duty demanded based on these charges was set aside.
Valuation of imported goods - Cement Carrier ship - The Tribunal accepted the value assessed by the Chartered Engineer at Rs. 27 Crores, overturning the adjudicating authority's re-determined value. The court found the inclusion of transportation, insurance, and handling charges unjustifiable, citing legal precedents and the absence of evidence to support such costs for vessel imports. - Consequently, the additional duty demanded based on these charges was set aside.
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