1997 (1) TMI 272

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..... [Order per : Justice U.L. Bhat, President]. - Respondent is absent but sent a request for disposal of the appeal on merits. We have heard Shri M. Ali, JDR and perused the papers. 2. On the import of Tolune-Di-Isocynate 8/20 T.D.I., 20,444 kgs. gross (19 MT) Net in 76 Drums. Respondent presented Bill of Entry and import documents declaring value at the rate of US $ 2,000 PMT. The pr....

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....of 90 days of the date of shipment. Therefore, it was not a manipulation on the part of the importer or supplier to show the price and the interest in separate invoices. 4. Appraising Manual at page 134 refers to the following instructions dated 27-7-1957 of Ministry of Finance :- "The Government of India has decided that the interest charged by the suppliers in the case of goods import....

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....s are actually sold at the price declared as the price actually paid or payable and - the claimed rate of interest does not exceed the level for such transactions prevailing in the country where and at the time when the finance was provided. This Decision shall apply regardless of whether the finance is provided by the seller, a bank or another natural or legal person. It shall also apply, i....