2003 (11) TMI 213

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.... issue pertains to valuation of imported goods. The appellants imported two consignments of Plain Medium Density Fibre Board (PMDFB) and sought clearance under two Bills of Entry declaring a value of 140 US $/CBM. The consignments arrived from Hamburg to Nava Sheva (Mumbai) but were invoiced by a trader in UAE on whom the appellants placed the order. The declared value was rejected by the original....

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....t Industries 1996 (81) E.L.T. 195 (S.C.); Eicher Tractor's case [2000 (122) E.L.T. 321 (S.C.)] etc.; the transaction value has not been rejected under Rule 10A of the Valuation Rules. The ld. DR strongly supported the order of the Commissioner (Appeals). 3. Heard both sides. 4. The appellants placed an order for the impugned goods from trader in UAE who in turn placed an order with the manuf....

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....e lowest of the prices indicated in the contemporary invoices and determined the value at 180 CBM. 5. We observe that the Department has rejected the declared value on the basis of contemporary imports. It has not rejected the TV on the ground that the circumstances for rejection of TV laid down in Rule 4 of valuation Rules exist in this case. The Supreme Court in the case of Basant Industries ....