https://www.taxtmi.com/caselaws?id=31534 The Supreme Court set aside previous judgments and ruled in favor of the Department in a case concerning the determination of the value of a ship imported by M/s. Atam Manohar Ship Breakers Ltd. The Court found discrepancies in the addendum reducing the price of the vessel, highlighting its lack of authenticity and alignment with contractual terms. Emphasizing transparency and accuracy in commercial agreements, the Court concluded that the reduced price stated in the addendum should not be considered, ultimately overturning lower decisions and underscoring the importance of adherence to contractual terms in valuation processes. en-us Tue, 11 Nov 2008 00:00:00 +0530 Thu, 29 Jan 2009 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31534 The Supreme Court set aside previous judgments and ruled in favor of the Department in a case concerning the determination of the value of a ship imported by M/s. Atam Manohar Ship Breakers Ltd. The Court found discrepancies in the addendum reducing the price of the vessel, highlighting its lack of authenticity and alignment with contractual terms. Emphasizing transparency and accuracy in commercial agreements, the Court concluded that the reduced price stated in the addendum should not be considered, ultimately overturning lower decisions and underscoring the importance of adherence to contractual terms in valuation processes. Case-Laws Customs Tue, 11 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31534