https://www.taxtmi.com/caselaws?id=82384 The Appellate Tribunal allowed the appeal, setting aside the Order of the Additional Collector. It directed the Department to accept the invoice price for the imported goods and assess them under Section 14(1) of the Customs Act. The Tribunal emphasized the importance of considering the quantity of goods imported and contemporaneous prices in determining the appropriate value for assessment. It clarified that while the contract price is relevant, the prevailing price at the time of importation is crucial, particularly in the absence of evidence of higher-priced contemporary imports. en-us Wed, 07 Oct 1992 00:00:00 +0530 Mon, 04 Jul 2011 16:56:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82384 The Appellate Tribunal allowed the appeal, setting aside the Order of the Additional Collector. It directed the Department to accept the invoice price for the imported goods and assess them under Section 14(1) of the Customs Act. The Tribunal emphasized the importance of considering the quantity of goods imported and contemporaneous prices in determining the appropriate value for assessment. It clarified that while the contract price is relevant, the prevailing price at the time of importation is crucial, particularly in the absence of evidence of higher-priced contemporary imports. Case-Laws Customs Wed, 07 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82384