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2017 (1) TMI 11 - CESTAT MUMBAIValuation - export of goods - Section 14 of the Customs Act, 1962 - consignment rejected by purchaser due to dispute in Fe, and were sold to other party, can the valuation be revised on this basis that the appellant had received less amount than the contracted value? - Held that: - once the ship sails from the port after the Let Export Order, and the cargo does not arrive at the destination, the assessment entered by the adjudicating authority at the time of Let Export Order remains and does not undergo any change even for the reason that the goods are lost at sea. The exporter does not have a claim for refund - If this principle is applied, which is the correct principle for valuation as per Section 14 of the Customs Act, 1962, the consignment having been declared to be unaccepted by the purchaser cannot be a reason for reduction in the value of the consignment as cleared from India - appeal dismissed - decided against appellant.
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