2018 (6) TMI 390

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....And SHRI RAJU, MEMBER (TECHNICAL) Shri Anil Balani, Advocate for Appellant Shri Manoj Kumar, AC (AR) for Respondent Per: Raju These appeals have been filed by M/s Degmak Engineering Corpn., Hareshlal Bhatia, M/s Flow Fast Engineers (India), Manoharlal Bhatia and Ashok Bhatia against order of confirmation of demand and imposition of penalties. 2. Learned Counsel pointed out that M/s Flow Fa....

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....Fast Engineers was importing goods and supplying the same to Delhi Electric Supply Undertaking (DESU) through the intermediary namely, M/s Degmak Engineering Corporation. The proceedings seek to discard the declared assessable value of the goods imported by M/s Flow Fast Engineers (India) on the ground that M/s M/s Flow Fast Engineers (India) and M/s Degmak Engineering Corporation are related pers....

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.... on application of Rule 7 (2) of the Customs Valuation Rules, 1988 and assessable value has been revised on the basis of the price at which the gods were sold by M/S Degmak Engineering Corporation to DESU. He argued that in absence of any ground for rejection of the declared value, proceedings to apply Customs Valuation Rules cannot be permitted. 2.2 He further pointed out that Shri Ashok T. Bhat....