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2018 (5) TMI 2014 - AT - CustomsValuation of imported goods - Fabric - rejection of declared value on the Bill of Entry - enhancement of the value - Rule 9 of the Customs Valuation (Determination of value on Imported Goods) Rules, 2007 - HELD THAT:- The transaction value is the basis for assessment unless proved to be wrong or affected by extraneous considerations. The Revenue has not rejected the transaction value first. The Appellate Authority has referred to precedent decisions holding to that effect. As such, the Commissioner (Appeals) is fully agreed upon that in the absence of rejection of the transaction value, Revenue cannot proceed ahead to redetermine the value in terms of the subsequent rules of Customs Valuation Rules. No infirmity is found in the impugned order of the Appellate Authority, requiring any interference. Appeal dismissed - decided against Revenue.
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