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2016 (9) TMI 930 - AT - CustomsEnhancement of assessable value of export - Fe percentage content in the ore - Fe content as per invoice - Fe content as per Customs Laboratory Report - rule 6 of CVR - CBEC Board issued Circular no. 12/2014 Cus-dated 17.11.2014 in respect of valuation of Iron Ore - Held that: - the test reports of Custom House laboratory have been issued around a month after filing of the shipping bills. It is been consistently held that time factor is important in testing such samples, since there would result increase in Iron content due to evaporation of moisture. The decision in the case Steer Overseas Pvt. Ltd Vs Commissioner Cus & CE, Vizag [2009 (4) TMI 369 - CESTAT, BANGALORE] have been followed. It is also noted that the declared contractual values of such Iron Ore exports are accepted in other ports like Kolkatta, Paradeep etc., as per the documents submitted by the appellant. The variations in Fe content were very minor, within tolerance limits, did not impinge upon the declared values since the invoice amount in each case was realized as per the BRCs - the loading of assessable value found to be arbitrary and without any basis. Appeal allowed - decided in favor of appellant.
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