2010 (9) TMI 1006

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....Krishnanandh, Consultant, for the Respondent. ORDER [Order per : Jyoti Balasundaram, Vice-President]. - Value declared for Thermal Transfer Ribbon and Toner was compared with NIDB data and found to be on the lower side and hence the value thereof was enhanced to ₹ 2,87,731.20, rendering the goods liable for confiscation with an option of redemption on payment of fine of ₹ 70,000/- an....

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....As far as Thermal Transfer Ribbon, NIDB data shows that these goods were imported by others at and around same time as the import in question at a higher price. Further, the assessees have accepted the enhancement of the value of the goods. Therefore, the contention that Rule 8 could not have been straightaway resorted to without following the Valuation Rules sequentially loses merit. In the light....