1995 (1) TMI 89

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....ppellant M/s. Basant Industries, sought clearance of goods imported against their Licence No. P/S/1943043, dated 6-9-1983. The price of the goods imported, namely, TAM Brand Bearings No. 75 l I was US $ 1.80 CIF per piece. On the allegation that the goods of the same description had been imported by M/s. Ravi Agricultural Industries, Agra under Invoices Nos. FDN 849031, dated 4-6-1984 and FDN 8490....

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....ce purposcs although he refrained from imposing a penalty on the importers Against the said decision of the Assistant Collector, thc assessee preferred an appeal before the Tribunal. In the appeal, in addition to the correspondence which had already been produced on the record, the assessee also produced another invoice of a different supplier which showed that he had charged a price of US $ 1.80 ....

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....er and the appellant importer that there was some bargaining before the pricc of US $ 1.80 CIF per piece was finalised. The first is a letter of 18-6-1984. In that letter the supplier has stated that : "We offer our last price at the rate of US $ 1.80 CIF BBY. Subject to a your purchase of total quantity of 49,670 pcs and no rebate is allowed." It was also stated in that letter that their pr....

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....e seen that the price of US $ 1.80 each for 40,000 pieces was fixed after considerable negotiations and was fixed after keeping in view that the importers were old and valued customers. It is not known whether the other importer, namely, M/s. Ravi Agricultural Industries had the same relationship. There is also no reason why the instance pointed out by the importer that the very same commodity had....