Supreme Court of India
Mirah Exports Pvt. Ltd. v. Collector of Customs
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We are of the opinion that the invoice prices F as mentioned in the invoices could be treated as the price at which the goods are ordinarily sold or offered for sale in the course of international trade and that it had been rightly accepted. as the value for assessment purposes under Section 14 of the Act by the Addl.
Judgment, page 12
From the headnote
J, ..... Customs Act 1962, Ss. 14, lll(d), (m) 112 r!w Imports & Exports (Control) Act 1947, S. 3 (2)-Appellants importing ball bearings in bulk c quantities at discounts averaging 5 0% of those mentioned in price list of manufacturer-Authorities issuing show cause notices to appellants for undervaluation of imports cleared on the basis of invoice value-Appellants producing evidence to show that discount price was the normal invoice price for a number of unconnected importers-Additional Collector in 1985 accepting explanation and holding charges not proved-Department appealing to
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