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2012 (7) TMI 750 - AT - CustomsValuation of the goods – redetermination of value – Held that:- determination of value has not been done either under Rule 7 or Rule 8 as proposed in the show-cause notice but on the basis of transaction value of similar goods under Rule 5 - imports in this case have been made in March, 2010. The value adopted for comparison relates to bill of entry no. 809005 dated 10.7.2009. The import made in July, 2009 cannot be said to be contemporaneous to the imports made in March, 2010 - importer has given details of 10 bills of entry wherein polyester corduroy fabrics have been imported at prices ranging from US $0.32/mtr to US $0.51/mtr - There is no other evidence adduced by the department to show that the value of US$0.65/mtr declared by the importer in the import documents is incorrect - redetermination of value as proposed in the impugned order set aside. Penalty - Confiscation of the goods – Held that:- Merely because the appellant had claimed a wrong classification, it cannot be held that the appellant has misdeclared the goods, as it is for the customs authorities to assess the bill of entry and correctly classify the imported goods - description given in the bill of entry is in conformity with those given in the various import documents, namely invoice, packing list and bill of lading. Therefore, it cannot be held that the appellant tried to mislead the department - no misdeclaration on the part of the appellant attracting the provisions of Section 111 (m) of the Customs Act - confiscation and fine of penalties imposed on the appellant set aside
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