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2019 (12) TMI 1627 - CESTAT CHENNAIValuation of imported goods - rejection of declared value - redetermination of value in terms of Section 14 of the Customs Act, 1962 read with Rule 4 of the Valuation Rules, 2007 - demand of differential duty alongwith interest and penalty - extended period of limitation - HELD THAT:- Revenue before us has not brought anything on record as evidence to support its contentions that there has been no valuation or that the value of the imported goods declared did not represent the true and correct price. On a perusal of the SCN also do not reveal any justification for invoking the larger period. It is well settled that the valuation, if doubted by the revenue, like here, the valuation Rules prescribes guidelines that are to be followed whereby the officer could reject the declared value as not representing the transaction value and proceed to determine the value sequentially in accordance with Rule 4 to 9 of Valuation Rules 2007. Revenue cannot jump at its convenience and propose a demand alleging under valuation. Further, the SCN had only proposed rejection of declared value, but however, while adjudication, Ld. Commissioner has found that there was no suppression of the transactional value in the first place and has proceeded to accept the declared value. Thus, the under-valuation of the imported goods in the case on hand has not at all been established with the support data/evidences, in the first place. Appeal of Revenue dismissed.
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