TaxTMI 
TaxTMI 
1997 (8) TMI 178
X X X X Extracts X X X X
X X X X Extracts X X X X
....R, for the Respondent. [Order per : K.S. Venkataramani, Member (T)]. - The appellants entered into a supply agreement with M/s. Mobil Petrochemical Sales Corporation, U.S.A. by which, they were to import 11,000 MT, Monoethylene Glycol, Fibre Grade, for which the price was "to be mutually agreed at least 60 days prior to the shipment". By Order No. RM-047/89, dated 2-9-1989 the appellants pla....
X X X X Extracts X X X X
X X X X Extracts X X X X
....t Appellants claim after observing that (1) the price reduction was allowed on account of long-standing relationship between the suppliers and the Appellants and (2) that price actually paid was not US $ 1025/MT C&F but US $ 1050/MT C & F. 5. The Commissioner (Appeals) by the impugned order upheld the A.C.'s order leading to the present appeal. 6. We have heard Shri Prakash Shah, l....
X X X X Extracts X X X X
X X X X Extracts X X X X
....when sold for export to India. The price of US $ 1050 PMT was the price at which the goods had been sold by the Supplier and shipped for export to India. The price reduction took place thereafter on the Supplier "exceptionally" agreeing for the reduction in view of their long-standing business relationship with the appellants. The fact remains that the amount given to the appellants by way of cred....
X X X X Extracts X X X X
X X X X Extracts X X X X
....iew of our long-standing business relationship." The prevailing price as claimed by the appellants and the extent of reduction agreed to by the Suppliers is also an indication that the reduced price was "exceptional", hence not the price at which the goods are ordinarily sold in the course of international trade. 10. The appellants have relied upon the Supreme Court decision in the case of....