2009 (2) TMI 646

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....neous imports as also on the prices reflected in the international journal ICIS-LOR. The appeal filed against the above order enhancing the price and confirming the differential duty of Rs. 1,38,724/-, was rejected by Commissioner (Appeals). Hence the present appeal. 2. We have heard both the sides duly represented by Shri W. Christian, Advocate appearing for the appellant and Dr. Manoj Kumar Rajak, SDR appearing for the Revenue. The appellant's contention is that they are regular importers of the said product, which is being used by them as raw material. In respect of the earlier imports also the Revenue has raised doubts about the correctness of the assessable value and the original adjudicating authority has confirmed the demands....

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....quotation shows that on the date of contract, i.e. 9-7-2004, the prevent international price of the goods was in the range of US $ 890-930 PMT CFR N.E. Asia. The price declared by the appellant is US $ 965 PMT CIF Kandla which is in conformity with the prevalent international price. The appellant has therefore, shown that the price charged by the supplier for the subject import was not only competitive but was also available internationally to any other buyer. They have rebutted the doubts which were in the mind of the Adjudicating Authority based on identical goods being supplied at a higher price during the relevant period. In such circumstances, transaction value cannot be rejected under Rule 10A or proviso to Rule 4(2) of the Valuation ....