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2016 (11) TMI 335 - AT - CustomsValuation - second hand machinery - rejection of Declared value - rule 4 of the Customs Valuation (Determination of Price of Imported Goods) Rules, 1988 - concessional rate under N/N. 29/1997-Cus dated 1st April 1997 - EPCG scheme - Held that: - reliance placed on the decision of case of TOLIN RUBBERS PVT. LTD. Versus COMMISSIONER OF CUSTOMS, COCHIN [2003 (11) TMI 90 - SUPREME COURT OF INDIA] where it was held that mode of determination of the value of the goods in question in such matters as has been laid down in Rule 4(1), the transaction value will have to be determined and under the Rule 4(2), if any exceptional circumstance is found then the transaction value indicated in Rule 4(1) will have to be rejected and further determination have to be made under Rule 8 - None of the authorities advert to this Rule or say for what reasons as provided under Rule 4(2) the transaction value will have to be rejected. The show cause notice does not justify rejection of value declared under rule 4 of the Customs Valuation (Determination of Price of Imported Goods) Rules, 1988 - appeal dismissed - decided against Revenue.
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