K.L. Rekhi, Member (T)

1. The appellants are aggrieved by the higher valuation, fine and penalty adjudged against them on the charge of mis-declaration under Section 111 of the Customs Act, 1962.

2. The facts, in brief, are that the appellants imported 4 types of thin-wall bearings from U.K. on 22.7.1975. The customs authorities found that the value declared by them in the bill of entry filed for clearance of the goods was low as compared to the prices shown in the published catalogue price list for India then in force for the said bearings. The declared price was less than half for two types of bearings while for the other two types it was lower by 12 to 20 percent. The authorities noticed that all other importers had imported the said bearings at the listed prices only. Two earlier importations by the appellants themselves were also at the listed prices. Since under Section 14 of the Customs Act, 1962, assessment had to be made at the price at which the goods were ordinarily sold or offered for sale, and not at the invoice value obtained by any particular importer, the authorities did not find the declared values acceptable. The appellants explained that the value difference i