Supreme Court · 2010 INSC 729 · Decided 22 October 2010
M/S Choudhary Ship Breakers v. Commissioner of Customs, Ahmedabad
- Court
- Supreme Court of India
- Citation
- 2010 INSC 729 · [2010] 12 S.C.R. 854
- Case number
- CIVIL APPEAL No. 1908/2006
- Decided
- 22 October 2010
- Bench
- D.K. JAIN, H.L. DATTU (2-judge bench)
- Case type
- Civil
- Acts & sections cited
- Customs Act Section 14, 4
Headnote
Customs Act, 1962 - s. 14 - Valuation of goods for purposes of assessment - Import of old vessel under C Memorandum of Agreement and purchase price agreed - Reduction in purchase price by way of addendum to the original agreement - Customs duty - Assessment of - Tribunal upholding levy of the Department at original transaction value of the vessel - On D appeal, held.· Price paid by importer to seller in the ordinary course of commerce is to be taken as the transaction value for the purpose of valuation of goods - On facts, while determining value of vessel uls 14, factum of
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