TaxTMI 
TaxTMI 
1990 (2) TMI 155
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....e United Kingdom and had imported one used Rolls Royce Silver Spur Car on 12th June, 1989 from M/s. Car Exchange (Guernsey) Ltd., Lower Colborne Road, St. Peter Port, Guernsey for £ 60,000.00. The said car was imported into India and the appellant filed a bill of entry No. 89/6748, dated 4th August, 1989 for the clearance of the car, and in support of the same had produced invoice from one M/s. Jack Barclay Ltd. wherein it was stated that the recommended price of the car was £ 73,081.00 and the net export price was £ 57,461.06 and the revenue authorities had obtained information from England to the effect that the recommended basic price of the car in question was £ 69,985.00 excluding all taxes that being the net ex....
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....He has also referred to the CCP which appears on page 26 of the paper book and the CCP is for Rs. 16,00,000.00. He has pleaded that in the bill of entry the appellant had given the correct description and had declared the correct value. In support of his argument, he has referred to a judgment of the Tribunal in the case of Prem Kumar v. Collector of Customs reported in 1989 (40) E.L.T. 340 where the Tribunal had accepted the value of the car declared by the appellant. The appellant was not a businessman. Shri Ganesan has pleaded that the appellant had declared the value at Rs. 15,33,586.00, whereas the revenue has assessed the same at Rs. 15,91,915.00 and has referred to the bill of entry which appears on page 29 of the paper book. He has ....
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.... the learned advocate, pleaded for the waiver of the penalty and acceptance of the value declared by the appellant. He has also pleaded that value should be reduced by 15% as a trade discount in view of the earlier judgments of the Tribunal. During the course of arguments, Shri Ganesan had filed a calculation sheet on the basis of World Car Catalogue Price of Rolls Royce Silver Spur. 6. We have heard both the sides and have gone through the facts and circumstances of the case. The facts are not disputed. The appellant had imported Rolls Royce Silver Spur August, 1988 model car. The value of the car has to be taken in terms of Section 14(l)(a) of the Customs Act, 1962. Section 14(l)(a) of the Customs Act, 1962 is reproduced below :- "14. V....
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....ational trade and had ordered the assessment of the car on the basis of World Car Catalogue Price of the same model less 15% discount. Para No. 3 from the said judgment is reproduced below :- "3. The appellant contended before us that the invoice price was not a discounted price. The learned representative of the department maintained, on the basis of his experience in the Customs department, that the invoice price to the export passengers (like the present appellant) was a discounted price. He, therefore, opposed the grant of any further discount to the appellant. However, he had no objection to the car being assessed at the manufacturer's price to wholesale dealers in the course of international trade. But there could be no further 15% d....