https://www.taxtmi.com/caselaws?id=174558 The appeals concerning the valuation of vessels for ship breaking were considered by the Larger Bench. It was determined that any price reduction agreed upon before the date of import would impact the assessable value under the Customs Act. However, post-import price variations would only be relevant in specific circumstances such as contractual breaches. In this case, addendums reducing vessel prices post-import were found unjustified as there were no contractual disputes or changes in vessel weight. The Tribunal set aside the decision accepting the reduced values and reinstated the original valuation order. en-us Wed, 21 Mar 2007 00:00:00 +0530 Mon, 12 Oct 2015 15:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174558 The appeals concerning the valuation of vessels for ship breaking were considered by the Larger Bench. It was determined that any price reduction agreed upon before the date of import would impact the assessable value under the Customs Act. However, post-import price variations would only be relevant in specific circumstances such as contractual breaches. In this case, addendums reducing vessel prices post-import were found unjustified as there were no contractual disputes or changes in vessel weight. The Tribunal set aside the decision accepting the reduced values and reinstated the original valuation order. Case-Laws Customs Wed, 21 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174558