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2015 (1) TMI 710 - CESTAT MUMBAIValuation - import of vessel - Benefit of exemption under Notification No. 21/2002-Cus - The only reason for denying the benefit of notification is that the value of the barge as shown in the invoice does not match to the value shown in the Insurance cover and the invoice issued by M/s. SEL on 17-3-2009. - Held that:- Reliance on the documents namely invoice issued in 2009 and the insurance cover for insurance of the impugned barge are not the evidences to determine the assessable value. We further find that in this case the adjudicating authority has not relied on any other evidence for enhancing the declared value. Therefore, the value declared by the appellant in their bill of entry is really a transaction value and the same cannot be rejected without any supporting evidence. We also find that the appellant produced a certificate issued by Chartered Engineers dated 31-12-2010 certifying the value of the barge is US$ 23.5 Million. The said evidence has not been discarded by the adjudicating authority. Further, the appellant has also produced a quotation to know the price of new identical barge and it shows that the new barge will cost USD 25 Million from the manufacturer. This evidence has also been discarded by the adjudicating authority. Impugned order is without justification as held by the decision in the case of Titan Medical Systems Pvt. Ltd. (2002 (11) TMI 108 - SUPREME COURT OF INDIA). We also find that in the case of CCE v. Wander Ltd. (2003 (8) TMI 48 - SUPREME COURT OF INDIA) the Hon’ble Apex Court held that the issue of valuation of barge seized have no relevance or significance if the same is exempted and there is no duty liability. - value declared by the appellant in the bill of entry is true and correct. Therefore, the impugned proceedings are not warranted. - The essentiality certificate issued for the barge in question is for “Swiber Victorious” therefore, the impugned order quo rejecting the essentiality certificate is set aside. As the value declared by the appellant is USD 23.5 Million is true and correct value therefore, we hold that the appellant is entitled for the benefit of exemption at Sl. No. 214 of Notification No. 21/2002, dated 1-3-2002. - Decided in favour of assessee.
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