2008 (6) TMI 42

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....in U.S. $ 4000 plus U.S. $ 480 freight vide invoice No. 1560 dated 10-7-1999 and based on this value, the C&F value of the car was U.S. $ 4480/.The Customs authorities did not accept this value and directed the Appellant to produce the Manufacturer's price list. The appellant was able to produce 1998 World Car Catalogue and after deducting the permissible depreciation from the price of a Toyoto Corolla car of model nearest to this model in 1998 catalogue, worked out the CIF value as Rs. 2,63,360/- and duty liability as Rs. 3,00,698/-. But even this price, which was much higher than the invoice price, was not accepted by the Customs, who determined the price, on the basis of the price of a model in 1996 as Parker's Car guide, as JY1507000 i.....

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.... model of car. (iii) Judgment of this Tribunal in the case of Segu Mohammed Hanas v. Commissioner of Customs, Cochin reported in 2006 (196) E.L.T. 218 (Tri. - Bang.) was cited wherein it was held that when in case of import of used car, invoice of purchase of car in foreign country has been produced and there is no evidence indicating that the purchase invoices produced by the appellant was bogus and there is no allegation of any deliberate attempt on the part of the appellant to under value the car, the transaction value cannot be discarded as the conditions mentioned in rule 4(2) of the Valuation Rules are satisfied. This judgment is squarely applicable to the facts of this case. 2.2 The learned departmental representative defended the ....

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.... no justification for rejecting the price mentioned in the invoice of the supplier and taking recourse to Rule 8 of the Valuation Rules. This Tribunal, in the case of Segu Mohammed Hanas (Supra), relying upon Hon'ble Calcutta High Court's judgment in case of Debabrata Ghosh v. Assistant Collector [1993 (68) E.L.T. 551 (Cal.)] has held that when in the case of import of used car by a person, the invoice of purchase of the used car in the foreign country has been produced and there is no allegation that the invoice produced is bogus or that the price mentioned therein been deliberately under declared, the invoice price has to be accepted as the Transaction value under Rule 4(1) ibid and adoption of Rule 8 ibid (best judgment method) is not pr....