2005 (7) TMI 197

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....ontemporaneously there were supplies at higher prices of the same product. The value was raised to Rs. 19 lakhs based on the said contemporaneous  import. The present appeal challenges that enhancement. 3. The contention of the appellant is that the consignment was brought as stock lot and that accounted for the lower price. It is being pointed out that the invoice describes the goods as "quality commercial/stock lot".  Learned Counsel also took us  to the examination report of the consignment. He has also relied on the letter dated 19-7-2002 of the supplier certifying that consignment was "commercial/stock lot/stock clearance sale which was taken place during the month of February 2002 on the eve of Chinese New Year". Lea....

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....ier has stated that the consignment related to clearance sale on the eve of Chinese New Year. These circumstances show that the discount is not  abnormal. It is a discount given in clearance sale. That such a clearance sale price is acceptable for valuation remains settled by the decision of the Apex Court in the case of Mirah Exports Ltd. v. C.C. (supra).  We read para 13 of that judgment : 13. In the present case the only evidence that was adduced by Revenue in support of the charge of under valuation is the price list No. 8102, dated February 15th, 1981 which was found during the course of search in the premises of Skefko, etc. that was conducted by the officers of Enforcement Directorate on or about June 22, 1983. The price....