TaxTMI 
TaxTMI 
1984 (5) TMI 249
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....to briefly set out the facts of the case. The appellants, M/s. Joy Foam (P) Ltd., Madras imported one production line for manufacturing of flexible polyurethane foam consisting of one Center CF-4 Foaming machine alongwith some spare parts. The appellants declared to total C.I.F. value for the said goods as NKR 4,46,800 equivalent to Rs. 7,29,967/-. The appellants had declared this value with reference to the proforma invoice dated 26-6-1979 received by them from the foreign suppliers which was in conformity with the invoice dated 23-11-1979 under cover of which the import was made. During the course of finalising the assessment, the assessing Officer wanted to refer to the technical literature and the price list, if any, for the said goods.....
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....lector, after going through the evidence placed before him, upheld the findings of the lower authority and rejected the appeal. 3. During the course of hearing of the appeal before us, Shri Y.N. Chopra, the learned Consultant appeared with Shri Verghese Eapen, Director of the appellant Company. It was emphasized by Shri Chopra that the goods had been imported after negotiation with the foreign supplier, M/s. Laader Berg Limited (hereinafter to be called the Norway party). The lower authorities had erred on placing reliance on the price list which was not dated and which did not show clearly that it was valid for assessment purposes at the time the goods in question were imported. In fact, the appellants themselves had produced the t....
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....in the absence of any incriminating evidence, the Department was not justified in arbitrarily raising the assessable value of the goods. 4. Shri N.I. Ramanathan, the learned representative of the respondent, stated that the lower authorities were fully justified in adopting the assessable value of the goods with reference to the price shown in the price list produced by the appellants themselves. The price lists are usually not dated. In any case, the appellants had not produced any evidence before the lower authorities that the said price list was not valid for the goods imported by them. In particular, Shri Ramanathan drew our attention to a letter dated 19-1-1979 addressed by the Delhi party to the foreign supplier. This letter m....
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....ompany was not readily available. 5. We have given our very careful consideration to the submissions made by both sides. In the normal course, a price list for goods is adopted as basis for valuation of the goods, more so, when the said price list is produced by the importers themselves. Having produced the price list, the appellants cannot take the plea that they had produced the literature to the Customs authorities only with regard to specifications of the machine and its spares and not for the purposes of valuation of the goods with reference to the prices shown in the same literature. It appears to us that the appellants are trying to wriggle out of the situation created by themselves in producing the literature which goes agai....