2013 (8) TMI 546

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....s filed this appeal. 2. The brief facts of the case are that the appellant had imported 10146 pieces of Old & used Tyre size 15, 16 @ US $ 8.00 and 12, 13 & 14 (inch) @ US $ 6.00 with delivery at ICD LONI, from M/s Rising Emirates used cars & spare Parts TR, L.L.C. Sharjah. For clearance of the used Tyres, the appellant filed B.E. No. B.E. No. 6641987 dated 25.04.2012 along with invoice and other relevant documents. The value declared was the contract price i.e. invoice value Rs. 55,03,852.00 and total revised assessable value was Rs. 66,41,987.00. 3. It may be mentioned the the used Tyres are classifiable under CTH 40122020 and as per the policy are restricted items requiring special import license. The issue of importability of old ....

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....een taken into consideration. Only the estimated value has been given based on Chartered engineers certificate. 5.2 He also contested the confiscation on the allegation of mis-declaration. He stated that Department did not dispute the genuineness of the invoice or whether the payment has not been made as per invoice, or there existed special circumstances that price is not the sole consideration of sale. 5.3 As regard redemption fine he contended that the requirement of guidelines are as followes such types of old tyres for automobiles are sold in India at about 15%-25% of price of new tyres of same size in India. After accounting for expenses incurred in imports and some reasonable margin for the importer, the value of import ite....

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....nd size 12, 13 14, 15 & 16 as per packing list/invoice. It was also found that the value declared by the importer was in lower side as compared to the value suggested by independent Chartered Engineer and other contemporaneous import. Hence, value thereof was held to be rejected under Rule 12 of the Customs Valuation (Departmination of value of imported goods) Rules 2007 and same has been re-determined under Rule 9 i.e. residual method after following Rule 4 to 9 sequentially. The value of the tyres of size 12. 13 & 14 were enhanced to USD 10.00 per piece & value of tyres of size 15 & 16 were enhanced to USD 11.00 per piece on the basis of the evaluation by the independent Chartered Engineer. Accordingly the CIF value was worked out to be R....