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1999 (6) TMI 169
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....Respondent. [Order per : G.R. Sharma, Member (T)]. - This is a case of import of a car purported to be under the transfer of residence. The appellant filed a Bill of Entry for the car declaring the FOB price of the car as Rs. 18,35,260/-. The Department accepted this as a transaction value of the car and after allowing the depreciation for retention of the car in the foreign country and its ....
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.... about less than a year. He submits that the Department did not consider this aspect and thus denied them the benefit of transfer of residence rules in so far as the import of this car and assessment thereof is concerned. 3. Shri Shiv Kumar, ld. JDR submits that the value for purpose of assessment was the value declared by the importer of the car that this value was declared in Bill of Ent....
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.... or road tax. Unless these items are claimed, we agree with the lower authorities that the transaction value was the correct value as it was in conformity of the Parker's Price Catalogue. There is a specific mention of this fact in the brief facts narrated in the impugned order. Thus looking to the fact that the value was declared by the importer; that the value was more or less as the one reflect....