TaxTMI 
TaxTMI 
2009 (1) TMI 708
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....sp; Shri T. Tiju, JDR, for the Appellant. None, for the Respondent. [Order per : K.K. Agarwal, Member (T)]. - This is an appeal filed by the revenue. The brief facts of the case are that the respondents Paras Electronics had imported air-conditioners of 2-Ton capacity at a declared price of US $270/pc. This price was enhanced to US $313/pc and goods were allowed clearance. Subsequently, D....
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....ving taking place against the quotations was produced by the investigating agency. He, further, held that the statements of the accused are not corroborated by evidences. He finally held that the assessment had attained finality and such issuance of show cause notice after one year renders it time-barred. He, accordingly, dropped the proceedings in the matter. 3. The revenue in its appeal ....
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.... were called for through diplomatic channels which shows that the prices declared by the importer were much less than the price shown in the quotations. Hon'ble Supreme Court has in the case of Sharp Business Machines Pvt. Ltd. - 1990 (49) E.L.T. 640 (S.C.) held that valuation can be determined on the basis of quotations, if there is considerable difference between the invoice price and quotations....