1999 (8) TMI 636

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.... was from M/s. Rising Gems Tani Co. Ltd. and the parcel contained an invoice which declared a value of 36.51 US $ @ 0.16 US $ per ct. The invoice also mentioned that the goods were "free trade sample of no commercial value". On examination of the goods by Customs, it appeared that declared value was too low. Therefore, they obtained the opinions of the two experts in the customs panel of experts. One of them Shri Gian Chand Lodha valued the goods at 18 US $ per ct., while the other Sh. Dulichand Tak valued at 16 US $ per ct. At the assessed value, the consignment required import licence. Accordingly, the appellants were asked to produce import licence. They were also liable to action for misdeclaration of value. They waived show cause notic....

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....arned departmental representative has submitted that the procedure of valuation adopted by the department as well as the action taken against the appellant are entirely according to law and correct procedure. Value has been fixed at the lower of the two values advised by experts. The experts have been notified under a Public Notice issued in 1982. He also referred to the adjudication order which point out that, previously, a consignment of comparable goods had been imported at a value of 15 US$ per ct. in 1994. He, therefore, submitted that the valuation compared with previous import. He also submitted that the appellant had held himself out as the importer during the adjudication proceedings. He was also aware of the valuation of the goods....