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2017 (3) TMI 650 - AT - Central Excise100% EOU - Valuation - ingots cleared in domestic tariff area - rejection of declared value on the ground that in case of Copper ingots the London Metal Exchange (LME) price is higher than what is declared by the appellant and in case of brass ingots, the price is less than the import value of brass scrap from which such ingots were manufactured - Held that: - There is no indication in the original order that such scrap based ingots are listed in LME and are compared for determining the price. Apparently, a comparison cannot be made between the ingots manufactured from ore and the ingots manufactured from scrap. Both will vary in quality and value - no attempt has been made by the Revenue to examine the contemporaneous price of similarly situated market in India, so that a comparison could have been made for examining the correctness of transaction value adopted by the appellant. The whole proceedings for demanding differential duty was solely on the ground that LME price of copper ingot as well as tariff value for import of brass scrap which were much higher and accordingly, the transaction value is held to be not correct - appeal allowed - decided in favor of appellant.
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