Factum of actual payment of price in terms of addendum cannot be ignored while determining value of vessel

Diamond Industries (SBD) Vs Commissioner of Customs (CESTAT Ahmedabad)

CESTAT find that the controversy at hand narrows down to the question whether the transaction value of the vessel is to be price mentioned in the original MOA or the reduced price indicated in the addendum. We are of the opinion that in light of the statutory provisions, the factum of actual payment of the price in terms of the addendum cannot be ignored while determining the value of the vessel under Section 14 of the Act. We may, however, hasten to add

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