https://www.taxtmi.com/caselaws?id=53298 The Tribunal ruled in favor of the appellant, a ship breaker, in a customs valuation dispute. The appellant's appeal against the Commissioner of Customs' order-in-appeal regarding the ship's valuation was upheld. The Tribunal considered the reduced price in the Bill of Entry, reflecting the purchase price after an amendment due to structural deficiencies. It emphasized using the price at the time of importation, as per the genuine addendum, for assessment. The Tribunal rejected the Revenue's reliance on the original agreement without provisions for price reduction, allowing the appeal and disposing of the Revenue's cross-objections in favor of the appellant. en-us Thu, 26 Aug 2004 00:00:00 +0530 Tue, 12 Oct 2010 14:03:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53298 The Tribunal ruled in favor of the appellant, a ship breaker, in a customs valuation dispute. The appellant's appeal against the Commissioner of Customs' order-in-appeal regarding the ship's valuation was upheld. The Tribunal considered the reduced price in the Bill of Entry, reflecting the purchase price after an amendment due to structural deficiencies. It emphasized using the price at the time of importation, as per the genuine addendum, for assessment. The Tribunal rejected the Revenue's reliance on the original agreement without provisions for price reduction, allowing the appeal and disposing of the Revenue's cross-objections in favor of the appellant. Case-Laws Customs Thu, 26 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53298