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2015 (8) TMI 384 - SCH - CustomsValuation – Transaction value – Confiscation of goods – Tribunal in case of KANHAIYALAL & CO. Versus COMMISSIONER OF CUSTOMS [2003 (8) TMI 423 - CESTAT, MUMBAI] allowed appeal of assesse against enhancement of declared value from US $900 to US $1200 (CIF) – Supreme court considered that there was huge devaluation in foreign exchange, i.e., Lira of Turkey in comparison to foreign exchange, viz., US dollar, and this devaluation was more than 100 per cent – This impacted price at which goods were imported by respondent – Therefore no interfere with orders passed by CESTAT was required.
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