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2016 (8) TMI 1402 - CESTAT MUMBAIValuation - enhancement of value without any basis - principles of natural justice - Held that:- The enhancement of the value from US $ 300 to US $ 450 was done by Assessing Officer arbitrarily without any basis. It is also observed that before enhancement of the declared value, it is necessary that assessing officer should have given opportunity to the assessee and also cite the proper reasons for not accepting the declared value and what is the basis of the enhancement of value and basis of quantum of enhancement. No efforts was made by the assessing officer to find out the fact in this regard. In the show cause notice also no reason was given for enhancement of the value, enhancement of the value was made directly on the Bill of Entry at the time of assessment, which is gross violation of principle of natural justice. Matter remanded to the original authority for passing a speaking order - appeal allowed by way of remand.
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