2003 (7) TMI 152

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....of cement. For that purpose they regularly import large quantities of furnace oil through their own port at Mul Dwaraka. Under the impugned orders it has been held that the transaction value of about US$ 150 P.M.T. was not acceptable for assessment of imported furnace oil to customs duty and the value has been enhanced to about US$ 174 P.M.T. and differential duty demand and demand for interest ma....

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....pellant's explanation all through was that price for the appellant's purchase is determined as the five-day average price from the bill of lading date. It is their submission that, this price formula is the reason for the variation in transaction values. It has further been stated that appellant gets a better deal on freight since they import their goods through their own private port, thereby red....