1982 (12) TMI 196

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.... Narain, inter alia, referred to the contract No. 1-08/E/2/IV between Chemi Imports and M/s. Hira Lall & Sons (Export) Pvt. Ltd., New Delhi, India. He stated that this contract was an irrevocable and final contract of sale of 3200 MT of soda ash at the price of US $ 174 per MT including the US $ 2 per MT as commission. The quality of the material was also specifically stated. Other conditions, inter alia, were that "if the freight rate increases more than 20 per cent, the price would be corrected accordingly" and "if the price of the product on the international market changes more than 20 per cent, both the parties have the right to cancel the contract". Both the buyers and the sellers appended their sigaatures and confirmed the contract o....

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....ract. This, be contended, was fallacious and could not, therefore, form the basis of evidencing the price at which the goods would be imported into India within the terms and conditions of the original contract. Since this was the actual price paid by the appellants, it should be accepted for the purpose of assessment under section 14 of the Customs Act. 3. Shri V.M.K. Nair, Senior Departmental Representative, appearing for the Department conceded that there was no evidence on records showing that there has been any under-invoicing or existence of any underhand dealing between the concerned parties. All that could be made out from the records was that in terms of the contract M/s. Hira Lall & Sons had assigned a part of the benefit of th....

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....in the fitness of things that the same should be made available for inspection since it was a document of great importance in deciding the present matter. 4. When asked by the Bench, the Advocate for the appellants pleaded his inability to produce the original contract between M/s. Hira Lall & Sons and Chemi Imports, Bulgaria. Besides, other documents, namely the indent placed by the appellants with M/s. Hira Lall & Sons, the original invoices and other correspondence could also not be produced. However, the Senior Departmental Representative could not say with authority that these documents in fact did not exist. The order-in-original and the order-in-appeal also proceeded on the assumption that these documents were genuine and were in ....