1996 (3) TMI 293

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....ipped two consignments of 25 M.T. which were received on 19-1-1985 and in February, 1985. The Customs authorities loaded the declared invoice value of Stg. GBP 1,075.00 per M.T. to Stg. GBP 1123/- per M.T. for assessment purposes, on the ground that the leading is required to be done to maintain uniformity. The Assistant Collector rejected the value based on the contract under Section 14(1)(a) of the Customs Act, 1962 on the ground that the deemed value of copper wire-bars at the time of place of importation based on several actual imports of these goods is GBP 1123/- per M.T. and therefore, this has been treated as the deemed value of goods at which the goods are ordinarily sold at the time and place of importation, when the consignment of....

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.... of Section 14 of the Act. He submitted that the contract price can be set aside and price as prevailing during the time and place of importation can be adopted in view of all other import during that period being at a higher price. 4. We have carefully considered the submissions and have perused the impugned order. The appellants have contended in the appeal memo that majority of the import relied by the lower authorities are that of MMTC, who buys the goods on the basis of monthly average price of copper as quoted on the London Metal Exchange, while the appellants had purchased the goods on day-to-day spot prices. As the basis for contractual price in both the cases is different, there cannot be any visible comparison between them....

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....tg. 1123/- to 1361/-. The date of invoice has not been contested in this case. The appellants have also filed a copy of the rates of the goods issued by Bombay Metal Exchange Ltd. by its Bulletin No. 11/84, dated 20-11-1984. This bulletin also shows the varying prices in the month of Oct., 1984 in respect of copper wire-bars and other metals. The range has been varying day-to-day and fluctuating and on a few days, it has gone up and come down. Therefore, in a circumstance like this, the question that arises for consideration is as to whether the contract price can be rejected and a varying prices i.e. highest or lowest of the other importers are required to be taken for the purpose of assessment. In our opinion so long as this factor is ava....