2007 (11) TMI 51

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.... in the present appeal relates to valuation of Furnace Oil imported by the appellant from M/s FAL Oil Co. Ltd., Sharjah, whereas the appellant has declared the assessable value of the oil as USD 129 per unit price. The same stands enhanced to USD 145.10 PMT by the authorities below. 2. After hearing both the sides duly represented by Shri D.H. Nadkarni, ld. Advocate for the appellant and Shri S....

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....mporter.  The vessel MT FAL - XVIII carrying the said cargo arrived at Gujarat Adani Port Ltd., Mundra on 15.2.2001 and accordingly the shipping agent on behalf of the master of the vessel has filed IGM No. F-160 dtd. 15.2.2001. The said vessel also brought a consignment of 11077 MT Furnace oil of M/s Adani Exports Ltd., Ahmedabad under bills of lading Nos. 290 to 294 all dated 11.2.2001 and ....

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.... not loaded on the vessel on 7.1.2007 as shown in bills of lading submitted by the importer but the same is loaded alongwith the cargo of M/s Adani Exports Ltd., Ahmedabad and as the price clause is based on the date of bill of lading the price shown in the invoice no. 2001029 dtd 13.2.2001 for the furnace oil of similar specifications of same supplier for importer M/s Adani Exports Ltd., Ahmedaba....

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....concluded that the date of bill of lading is questionable and price based on the same not correct worthy, inasmuch as comparable quantity of the identical goods supplied by the same supplier were also imported by the same importer. We find that the conclusion of the authorities below is proper and hold that the price enhancement was justified. 5. The appellant's reliance on the Tribunal's decis....