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2018 (3) TMI 2012 - CESTAT MUMBAIValuation of imported goods - rechargeable batteries - rejection of declared value - existence of reason to enhance the value based upon the market enquiry or not - HELD THAT:- It is seen that the appellant had declared the value of the imported goods, based upon the transaction value entered between him and the foreign supplier. The said transaction value does not stand accepted by Revenue on the basis of doubt entertained by them, resulting in conducting of market survey in India and rejecting the declared value of subject goods. It is well settled law that for enhancing the assessable value of the imported goods, Revenue has to first reject the transaction value by producing sufficient and cogent evidences. In the present case there is nothing on record to indicate or to establish that the transaction value entered between the exporter and the importer was not correct and there was under-hand compensation being given to the exporter. Admittedly, Revenue's case is based upon the market enquiry conducted in India which are bound to result in variations. In the absence of any evidence to reflect upon the incorrect transaction value, there are no justifiable reason to enhance the value based upon the marker enquiry. Appeal allowed.
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