https://www.taxtmi.com/caselaws?id=106667 The Tribunal ruled in favor of the Department, upholding the demand for a differential duty amount and penalty against M/s. Philips Carbon Black Ltd. The Tribunal determined that the value in the letter of credit, representing the contractual price, should be used for duty calculation instead of the invoice value. Despite oral agreements with Indian importers, the absence of a formal contract led the Tribunal to reject the appellants' argument for using the invoice value. The duty assessment was to be based on the unit value specified in the letter of credit, resulting in the dismissal of the appeal. en-us Wed, 07 Aug 2002 00:00:00 +0530 Thu, 15 Mar 2012 11:43:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106667 The Tribunal ruled in favor of the Department, upholding the demand for a differential duty amount and penalty against M/s. Philips Carbon Black Ltd. The Tribunal determined that the value in the letter of credit, representing the contractual price, should be used for duty calculation instead of the invoice value. Despite oral agreements with Indian importers, the absence of a formal contract led the Tribunal to reject the appellants' argument for using the invoice value. The duty assessment was to be based on the unit value specified in the letter of credit, resulting in the dismissal of the appeal. Case-Laws Central Excise Wed, 07 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106667