G.A. Brahma Deva, Member (J)

1. This appeal arises out of and is directed against the Order-in-Appeal No. 2034/88-BCH dated 4-5-1988 passed by the Collector of Customs (Appeals), Bombay.

2. M/s Automotive International (I), 465, S.V.P. Road, Bombay-400 004 respondents in this case, imported 50446 pcs. of SKF brand of bearing No. 6203 @ Singapore Dollar 0.60 (Rs. 3.00) per piece CIF from a Trader M/s SLS Bearings (S) PTE Ltd., Singapore. The goods were imported during January and February, 1984. According to the Department, price shown in the Invoice is not correct price. According to the price list of 1982-83, it should be at Rs. 10.82 per piece CIF as against invoice quoted price at the rate of Rs. 3.00 per piece. The matter was adjudicated by the Deputy Col-lector of Customs, Bombay who determined the value of the imported goods by taking 1983 Price List as basis by allowing 20% discount as admissible, according to the manufacturer, as this item i.e. bearing No. 6203 do not appear to find place in 1984 price list and in the absence of production of import licence for the enhanced value, the adjudicating authority imposed personal penalty of Rs. 1,00,000/- (Rupees one lakh) in