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2017 (4) TMI 199 - AT - CustomsValuation - it was alleged that value of goods exceeded 50% of market value - Held that: - the entire case is based on the survey conducted with the help of the engineer of a textile company. The engineer has later vide his letter dated 13-9-2005 communicated that he is not a Government approved valuer and was not an authority on the subject. Since the entire basis of the case that the market value of the goods was found to be ₹ 10/- per piece, itself has been put in suspicion, the case of Revenue cannot succeed. There is no independent evidence of the market value of the goods and in absence of the same, the impugned order cannot be sustained - in absence of a regular creditable inquiry into market value of goods, the charges of overvaluation cannot be sustained - appeal allowed - decided in favor of appellant.
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