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2016 (11) TMI 904 - AT - CustomsValuation of CRNGO imported by the appellant - whether the rejection of the declared value/ transaction value only on the ground that there were contemporaneous imports of similar goods, justified? - Held that: - before rejecting the transaction value declared by the importer as incorrect or unacceptable, the Revenue has to bring on record some cogent material, which would indicate that the goods imported are comparable with the contemporaneous imports - It is also to be noted that there are no findings or allegation of the importer being in collusion with supplier for suppression of transaction value. The lower authorities have erred in rejecting the value declared by the appellant. We are of the considered view that the impugned order is unsustainable on the above reasoning. The impugned order is set aside upholding the value declared by appellant as correct transaction value and the appeals are allowed with consequential relief, if any.
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