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2014 (2) TMI 881 - CESTAT NEW DELHIValuation of goods - Delay in conducting research - More than 2 years gap in conducting 2nd research - Imposition of redemption fine - Held that:- After the completion of export in May 2005, Revenue conducted enquiry and as per the report dated 01.09.2005, the value declared by the appellant was more or less equivalent to the value of the goods available in the market. No reasons stands given by the Revenue as to why the said report was not accepted by them & as to why the matter was kept pending for a further period for 2= years. It is seen that even the show cause notice dated 14.12.2007 was issued in terms of the directions of the Hon’ble High Court of Delhi in their order dated 29.11.2007 and the second enquiry was conducted thereafter. After the said directions of the Hon’ble High Court of Delhi, the Revenue hurriedly conducted second market enquiry on 19.11.2007 and thereafter issue show cause notice on 14.12.2007. All the enquiries conducted in 2007 reflect upon the market value of the goods available in the year 2007 inasmuch as the expression used by all these persons is the ‘present market value’. Admittedly, the viscose shawls and stoles in question are fashion goods, the value of the same would be time and period related. The enquiry conducted in 2007 reflecting upon the value of the goods at that point of time cannot be held to be correct value for the same very goods in the year 2005. Further, the Revenue has not given any sound reasons for rejection of the market enquiry conducted in 2005 itself immediately after the export of the goods - Impugned order is set aside - Decided in favour of assessee.
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