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2014 (10) TMI 842 - AT - CustomsMid-declaration of value Determination of assessable value Commissioner arrived at finding of mis-declaration of goods and consequently, mis-declaration of value and enhanced declared price of steel wheels, by referring to contemporaneous bills of entries In addition, commissioner confiscated goods with redemption fine and has imposed penalty upon appellant Appellant alleged that there were other contemporaneous evidences at lower value still Commissioner adopted higher value Held that:- Commissioner has adopted value based upon bill of entry where quantity imported was 720 pieces Though quantity in said bill of entry is against 720 pieces and the appellants import of higher number of pieces i.e. 2880 which may further effect assessable value, but appellant is not pressing on this ground and prays for adopting lower value of ₹ 1219.32 per piece only Therefore assessable value of ₹ 1219.32 per piece is correct assessable value As evidence of margin of profit is not available therefore by adopting criteria of differential duty, quantum of redemption fine reduced Penalty amount also brought down Appeal disposed of.
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