2005 (2) TMI 213

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.... sides. 2. The Revenue filed this appeal against order-in-appeal passed by the Commissioner (Appeals). 3. In this case the respondents made import of second hand used Heidelberg Speedmaster 4 colour offset printing machine and declared the value of Rs. 43,18,760/-. The Revenue after rejecting the value declared by respondents enhanced the same by applying Rule 8 of Rs. 76,95,900/- minus 66% ....

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.... same period some other machine was imported at a higher value. The respondents also brought to our notice that if the value of the machines in the year 1997 which is the year of manufacture is taken into consideration that will be of DM 10 lakhs. During the relevant time when the goods were imported the value of Deutgsche Mark was equal to Rs. 19.55 and if this value is applied the gross cost of ....