1999 (11) TMI 326

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....r importation of 208 MT. of HDPE granules Y-310 A. The value declared was US $ 510 PMT. The Customs observed that there was a contemporaneous import of the same grade of plastic at the same place of import supplied by the same Corporation at the price of US $ 820 PMT. That consignment weighed 48 MT. A computer print out was also cited wherein the same goods were imported at the price of US $ 940 PMT. The importers claimed that the prices were in terms of a contract dated November, 1994 between the importers and M/s. Gujarat State Export Corporation who had earlier in June, 1994 entered into a contract with M/s. G.A. International, Dubai for supply of 1500 MT at the rate of US $ 510 PMT. The importers cited bills of entry showing clearances ....

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....5. Shri Choubey fairly concedes that the invoice of M/s. G.A. International does not indicate the grade. He however, point out that the examination report on the back of the B/E forming part of the original records does show the grade. In examining the validity of the valuation of the goods and especially in determining the grade, the ld. Collector could have looked at the relevant documents without confining himself to the invoice. On this ground, his further observation that in the absence of the grade, comparison could not be made with the values in the customs print out is, without basis. 6. As regards the contract price, we find that in the Supreme Court judgement in the case of Rajkumar Knitting Mills (P) Ltd. [1998 (98) ....