M/S Eicher Tractors Ltd., Haryana vs Commissioner Of Customs, Mumbai

The Supreme Court held that under Section 14 of the Customs Act, 1962 and Rule 4 of the Customs Valuation (Determination of Price of Imported Goods) Rules, 1988, the declared price of imported goods must reflect the normal value in international trade. The Court found that the Assistant Commissioner correctly determined the price of bearings at JY 2507 per piece, rejecting the appellant's claim of a 77% discount as not reflective of normal commercial practice. The Court upheld the Tribunal's decision, affirming that the ordinary price as per the vendor's price list should be considered over specially quoted prices.