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2018 (5) TMI 1917 - AT - CustomsValuation of imported goods - slack wax and residue - rejection of declared value - HELD THAT:- It appears that the quantities of the slack wax and residue wax is based on the oil contents itself. The oil contained 20%-40%, which is helpful in determination of the price of the wax. The price of oil in international market is not established. This aspect was not examined before rejecting the valuation declared by the appellants. In respect of other cases, no prices were disturbed and declared value was accepted by the Department. In the instant case, no comparable quantities have been made out and proper discretions have not been made before rejecting the transaction value - The Hon’ble Supreme Court in the case of J. Yashoda v. K. Shobha Rani [2007 (4) TMI 11 - SUPREME COURT], observed that for rejection of value, substantial evidences must be in hand. But the Department is lacking the same in the instant case. Appeal allowed - decided in favor of appellant.
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