2005 (3) TMI 179

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....Member (T)]. - The appellant imported two consignments of glass fibre (woven rovings) at Kandla in November 1998. It sought assessment of the goods at the purchase price US $ 550 PMT. The Customs authorities considered this value to be low, and under the impugned order, increased the value to US $ 950 PMT for the purposes of assessment to duty. The appellant's claim was that the consignments were ....

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....wer price. With regard to the appellant's import, the explanation was that the other consignment imported in June 1999 was of glass fibre mat, a manufactured item from glass fibre and not glass fibre itself. During the hearing of the case, learned Counsel for the appellant took us through the record relating to the import and showed that the consignment in question was purchased by it from a Londo....

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....ase, it is seen that the goods were manufactured in 1996 and were sold as stock lot in 1998. The long gap between manufacture and the sale would seem to explain the reason for the lower price and treating the goods as sale of stock lot. When the manufacturer price is compared with the appellant's purchase price, it is seen that the transaction value of the appellant is reflective of a normal trade....