TaxTMI 
TaxTMI 
1996 (7) TMI 256
X X X X Extracts X X X X
X X X X Extracts X X X X
....espondent. [Order per : Justice U.L. Bhat, President]. - Appellant placed an order with Taiwan supplier for import of 10,000 gross pieces of umbrella cloth of sizes 39'' and 42'' at US $ 11.40 per gross pieces. The first instalment of 1500 gross pieces were imported. The appellant sought to clear the same under 5 REP licences which permitted import of items covered by Serial No. 627 of Appendix....
X X X X Extracts X X X X
X X X X Extracts X X X X
....x 3 Part A the appellant could validly import only umbrella cloth of the sizes 15'', 17'', 21'' upto 30'' and the import of 39'' and 42'' sizes, each piece of which will cover three or more pieces of the sizes required by the appellant, would not be valid. This conclusion is based on a restrictive understanding of the expression "cut to size" occurring in Serial No. 627. Manufacturers of umbrellas....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Collector found recent imports at Bombay of umbrella panel of 21" size at US $ 3.95 per dozen. He arrived at the conclusion that from a panel of 42" size it will be possible to obtain 4 nos. of 21" size and from a panel of 39" size it will be possible to obtain 3 nos. of 21" size. He calculated the value on proportional basis and arrived at the finding of mis-declaration of value. He also determi....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 19, 22 to 24, 26 to 28, 31, 35 to 38, 41, 43 to 45 and 50. The Collector did not examine the records relating to these imports. 5. There appears to be a fundamental flaw in the approach made by the Collector. We have before us a copy of the contract covering comparable import. The contract bears the date 13-12-1988. It refers to panels of various sizes ranging from 17'' to 25'' and the pric....