COMMNR. OF CUSTOMS EXCISE, NEW DELHI vs M/S. LIVING MEDIA(INDIA) LTD.

The Supreme Court addressed the valuation of imported Audio Compact Discs under the Customs Act, specifically referencing the Customs Valuation Rules, 1988. The Court upheld the CEGAT's decision to set aside the Assistant Commissioner's valuation, affirming that the assessable value should not include expenses related to advertisement and publicity. The Court concluded that the valuation determined by the CEGAT was appropriate and consistent with the statutory provisions, thereby dismissing the appeals filed by the Revenue.