Supreme Court of India
M/s Choudhary Ship Breakers v. Commissioner of Customs, Ahmedabad
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.
1 Supreme Court bench has cited this judgment.
What the Court ordered
We are of the opinion that the Tribunal needs to examine the matter afresh.
Judgment, page 10
From the headnote
Customs Act, 1962 - s. 14 - Valuation of goods for purposes of assessment - Import of old vessel under 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 additional customs duty by the Department at original transaction value of the vessel - On 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,
Authorities it was built on
Where later benches applied it
Of those, 1 referred to
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