Supreme Court of India
M/s Udayani Ship Breakers Ltd. v. Commnr. of Customs and Central Excise, Rajkot
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What the Court ordered
For the reasons stated above, we do not find any merits in this appeal and dismiss the same with costs.
Judgment, page 11
From the headnote
Customs Act, 1962-Sections 14 and 22--Customs Tariff Act, 1975-- Section 3-Customs Valuation (Determination of Price of Imported Goods) c Rules, 1988-Rules 3 and 4-lmporter imported a ship for purpose of breaking-Ship got grounded and damaged due to bad weather-Importer, thereafter, sold the ship on 'as is where is' basis to appellant at a reduced price-Appellant filed a Bill of Entry with Revenue declaring the value of the ship at the reduced price-Revenue rejected the value declared as it was not the price paid in the course of international trade-Commissioner (Appeals) allowed the appeal
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