2001 (5) TMI 98

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....of similar items imported by different importers from Indonesia, the price was found to be US $ 890 (US $ 638.9 MT CIF for the quantity of 20 MT Zeolite) imported by M/s. Gem Holiday Resorts. The supplier of Singapore was M/s. Ebikken Aquaculture S.P. Ltd. It is stated in the Order-in-Original that verification of relevant invoices and analysis certificates relevant to the print out shows that this consignment also originated from Indonesia. Therefore, the Additional Commissioner revised the value rejecting the transaction value and fixing the price at US $ 550 per MT CIF after granting discount of 30% on the ground that since the invoice is not available for verification of the supplier, a discount to the extent of US $ 30 per MT is requir....

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.... nor there was flow back of funds nor there was any such allegation. Therefore, the law laid down by the Apex Court which was in consonance with earlier orders of the Supreme Court is required to be upheld. He submits that straightaway the transaction value cannot be rejected and the department cannot straightaway go to Rule 8 without exhausting other rules. He pointed out that the evidence of computer print out was never shown nor given to them. Even in terms of Order-in-Original, the computer print out supplies were from Indonesia who was a dealer and therefore, their price will be inclusive of his profit. While, in the present case, the import is directly from the manufacturers and as they have directly imported, their price is bound to ....