1992 (10) TMI 203

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....e assessment was made on the basis of the manufacturer's invoice available in the Office of the Asstt. Collector in respect of a Honda Accord LE Four Door 2000CC Model Car by taking the assessable value as Japanese Yen 1,297,000/-. After giving a depreciation of 40% on the FOB value and adding freight, insurance and landing charges, the assessable value of the car was worked out as Rs. 1,84,427/-. The value of the airconditioner and radio cassette player fitted in the car were assessed at Rs. 13,439 and Rs. 3604 respectively. The total customs duty on the car, airconditioner and radio cassette player was worked out as Rs. 6,20,457/-. The appellant filed an appeal before the Collector of Customs (Appeals) pleading that the assessable value h....

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.... him in Canada should be taken as the basis for assessment since it tallied with the price of the car shown in the invoice which was filed by him with the Customs Authorities. He prayed that his appeal for reassessment of the duty on the vehicle in question on the basis of the price declared by him i.e. CIF C $ 10,702/- may be allowed. 4. On behalf of the Revenue, the Ld. SDR Shri Ram Prakash referred to the order passed by the Collector (Appeals) and contended that in the absence of the world car catalogue for 1983 (Should be 1988-Ed.) there was no case for reassessment of the value of the car imported by the appellant. He therefore pleaded for rejection of the appeal. 5. We have gone through the records of the case and the submissions m....