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2015 (12) TMI 645 - AT - CustomsDetermination of assessable value of the Ball Valve (Brass Bib Clock) - Held that:- There is virtually no evidence on record to indicate that the transaction value of the imported goods is not correct. Revenue has not bothered to collect any evidence to first reject the transaction value. In fact, the adjudicating authority has not even doubted the transaction value and has simplicitor adopted the assessable value, as opined by the Chartered Accountant - supplier of the goods has given a certificate saying that the goods were manufactured at their factory for various other customers, who did not take delivery and the same were sold as stock lot on “as is where is” terms without any guarantee. In such a scenario, the transaction value as reflected in the invoice issued by the foreign supplier has to be considered as the correct assessable value when Revenue has not produced any evidence to rebut the same. Accordingly, we set aside the impugned order - Decided in favour of assessee.
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