https://www.taxtmi.com/caselaws?id=43233 The court found in favor of the writ petitioner, holding that the contract and its amendment were valid. The court deemed the price increase and delay by the foreign supplier as normal business practices. It rejected the Collector's assumptions and reliance on irrelevant import instances, emphasizing that the assessable value should be based on the actual contract price. The court ruled against the Collector's illegal determination of assessable value and dismissed allegations of misdeclaration and contravention of the Customs Act. No penalty was imposed, and the court ordered a refund to the writ petitioner, ultimately setting aside the Collector's order. en-us Thu, 16 May 1991 00:00:00 +0530 Wed, 16 Jun 2010 18:40:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=43233 The court found in favor of the writ petitioner, holding that the contract and its amendment were valid. The court deemed the price increase and delay by the foreign supplier as normal business practices. It rejected the Collector's assumptions and reliance on irrelevant import instances, emphasizing that the assessable value should be based on the actual contract price. The court ruled against the Collector's illegal determination of assessable value and dismissed allegations of misdeclaration and contravention of the Customs Act. No penalty was imposed, and the court ordered a refund to the writ petitioner, ultimately setting aside the Collector's order. Case-Laws Customs Thu, 16 May 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=43233