JUDGMENT:

S.B. SINHA, J.

1. The extent of jurisdiction of the assessing officer to discard the transactional value disclosed by the importer is the question involved in this appeal which arises out of a judgment and order dated 24th February, 2006 passed by the Customs, Excise & Service Tax Appellate Tribunal (the Tribunal), West Zonal Bench at Mumbai.

2. Respondent herein filed a bill of entry dated 27th October, 1999 for clearance of "4,5 Dinitro Crysazine". The said goods fall under Heading 2914.69 and 2914.00 of the Customs Tariff Act, 1975 and Central Excise Tariff, 1944 respectively. The unit price of the said goods was declared at US$ 13.2 per kg.

3. Allegedly the respondent had imported the same goods from the same supplier earlier @ US$ 18.7 per kg.

4, The Deputy Commissioner of Customs in his order dated 22nd March, 2000 opined that the transactional value declared by the importer should be rejected and Rule 5 of the GATT Valuation Rules, 1988 shall be applied ordering to load the value to US$ 18.7 per kg. It was directed that the bill of entry should be assessed accordingly.

5. On an appeal preferred thereagainst by the respondent, the Appellate Authority being the Comm