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2013 (8) TMI 235 - AT - CustomsValuation of imported goods - related parties - section 14 - Department was of the view that supplier and the respondents are related person and the relationship has influenced the transaction value - Appeal filed by revenue for setting aside the order for enhancing the assessable value – Held that:- mere holding of shares by one party with proportional nominee directors in the other company does not amount to a relationship to disqualify transactional value court relied upon Modi Senator (I) Pvt. Ltd. vs. CC (I&G), New Delhi- (2009 (3) TMI 808 - CESTAT, NEW DELHI ) - even before the amendment of Section 14 and for the period thereafter as per the definition of ‘related person' u/s 14 - there should be two way interest between the buyer and seller was insufficient as the statutory requirement of buyer and seller having no interest in the business of each other does not imply that neither buyer has interest in the business of the buyer – appeal decided against revenue.
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