Order

The appeal by the assessee has been filed under-Section 130-E of the Customs Act, 1962 (hereinafter referred to as “the Act”) against the judgment of the Customs, Excise and Gold (Control) Appellate Tribunal (hereinafter referred to as “the Tribunal”) dated 12.7.1989.

2. The appellant, M/s. Rajkumar Knitting Mills (P) Ltd., imported 24 sets of ­second-hand water jet looms from Japan under Bills of Entry dated 27.7.1988. The said imports were made on the basis of a contract entered into by the appellant with M/s. Jinbo Boeki Shokal of Osaka, Japan on 1.12.1987 for the supply of 80 sets of second-hand “NISSAN” water jet looms. As per the invoice of the supplier dated 23.6.1988 the price of the said looms was 4,00,000 Japanese Yen per set. The goods had been shipped on 18.6.1988 and they arrived at the Indian Port on 26.7.1988. The appellant claimed that for the purpose of payment or customs duty the value of the goods should be assessed on the basis of the price indicated in the invoice. Similar goods (8 sets) had been imported from the same supplier in Japan by another firm, M/s. Hibotex Pvt. Ltd. on the basis of contract dated 2.5.1988 @ 7,00,000 Japanese Yen per set. The dat