1991 (11) TMI 161

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....for the Respondents. [Order per : S.V. Maruthi, Member (J)]. - This is an appeal against the order of the Collector enhancing the value of the Car imported by the appellant from US $ 3050 to Rs. 55,894 plus Rs. 6000/-. 2. The appellant was posted on 14-1-1986 as First Secretary in the Embassy of India, Venezuella. He served there till 16-2-1989 and returned to Delhi on 10-3-1989. He ....

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.... 3. The Collector while rejecting the invoice [value] observed that in this case the invoice is not for the price in normal wholesale trade and hence, [the] same cannot be taken as assessable value. While holding as above, he relied upon the price of (sic.) world car catalogue for the year 1981. While adopting the price indicated in the world car catalogue, he gave depreciation & other incid....

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.... Therefore, the order of the Collector is liable to be set aside. 5. Shri Jain hearing for the Department reiterated the order of the Collector. 6. The Collector while enhancing the value relied upon the world car catalogue 1981 on the ground that the world car catalogue for the year 1982 is not available. The Collector has also not doubted the genuineness of the transaction value.....