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2015 (12) TMI 786 - CESTAT NEW DELHIValuation - Undervaluation of goods - Import of old and used tyres - Held that:- 24 excess pieces of tyres cannot be held to be a mala fide misdeclaration in the quantum of tyres when the total number was more than 2500 pieces. As regards valuation, we find that the appellant having declared the transaction value, it was for the Revenue to rebut the same by production of evidence. The Appellate Authority has already observed that there is virtually no contemporaneous imports as no details are given. Otherwise also, we find that two different imports of ‘old’ and ‘used’ items can never be identical inasmuch as the value of the same would depend upon the number of factors including the usage years as also the condition of the goods. The Appellate Authority has rejected the transaction value by observing that the appellant has not produced any evidence to substantiate the same. We find no merits in the above reasonings of the Commissioner (Appeals). The appellant having produced the invoice, in support of its declared value, has done his part of the duty. If the Revenue is not happy with the said declared transaction value, it is they who have to produce the evidence. There being none in the present case, we find no reasons to enhance the assessable value. - Redemption fine and penalty is reduced - Decided in favour of assessee.
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