2009 (5) TMI 473

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....ment per: C.N. Ramachandran Nair, J.]. - Heard Standing Counsel appearing for the appellants and counsel appearing for the respondent. Respondent imported a custom made Ferrari car from Singapore on a declared value of US $ 70000. The marine insurance value of the car was US $ 107395. In view of the difference, the department investigated the matter and got confirmation from manufacturer of the ca....

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....s heard along with the appeal filed by the respondent against assessment of duty at higher amount. The Tribunal [2005 (181) E.L.T. 56 (Tri. - Bang.)] though confirmed the valuation adopted by the department for the purpose of levy of duty, cancelled the confiscation order for the reason that there is no misdeclaration of value justifying confiscation under Section 111(d) and 111(m) of the Customs ....

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....ny evidence adduced by the respondent on any of these aspects. On the other hand it is clear from the records that the original invoice of the manufacturer to the importer at Singapore was on 9-5-2002 and the car reached Kochi in the name of the respondent in the third week of July, 2002. On the face of it, the import of Singapore party would have been after contracting sale to the respondent beca....

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.... who is a party to undervaluation and sale of car at lower than the actual price will give evidence to the department to prove the case that the invoice raised by him on the respondent is a bogus one and that they received underhand payment of the differential price. It is also to be noted that the respondent has not produced evidence for payment of even the invoice value. The only reasonable infe....