G.A. Brahma Deva, Member (J)

1. We have heard both sides on this condonation application. Delay in filing the appeal was due to the fact that the appellant has filed a petition before the Hon'ble High Court of Calcutta against the impugned order. The Hon'ble High Court rejected the petition, but, however, directed to allow the condonation of delay on filing the condonation application. In view of the sufficient cause, delay was condoned and accordingly, this appeal was taken up for hearing on merits.

2. On facts originally the Collector of Customs, Calcutta, vide his order No. 860(V)-178/86-A/S49(V)-8/86A, dated 9-1-1987, has determined the value at Rs. 4,64,747.44 against Rs. 3,32,207.44 = DM 61940.00 C.I.F. as declared by the appellants in the Bill of Entry for their second hand Bar Peelar/Calow DMR 2 for 25-80 (centreless bar turning machine) for M.V. Bengal Progress Rot No. 295/86, Line No. 44 and the order to be loaded for Rs. 1,32,540/-. In view of this (sic) arrived at the value for loading on the basis of the Board letter F. No. 493/39/80-Cus.VI, dated 16-2-1985 provided guidelines for valuation of old imported machines. This order was challenged by the appellants before