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2017 (5) TMI 929 - AT - CustomsValuation of confiscated goods - 4247.56 carats of rough diamonds - The exporter had declared a value of ₹ 28,57,000 in the shipping bill which was re-assessed at ₹ 72,76,799 and subject to proceedings u/s 113 and 114 of CA, 1962 - case of appellant is that the adoption of the value recommended by the ‘trade panel’ would, therefore, not be in consonance with the directions of the Tribunal - whether invocation of section 113 (i) of Customs Act, 1962 was appropriate? - Held that: - It is admitted that there is no revenue involvement in the dispute and that no duties are liable to be collected on the declared or enhanced value. In these circumstances, the initiation of proceedings to reassess the value is, itself, questionable - It is quite clear from the findings of the original authority that an enhancement of value by customs authorities in the shipping bill or bill of entry does not carry with it the concomitant obligation to repatriate or remit the differential value from, or to, the buyer, or supplier, respectively. In the circumstances, the disallowance of exports even after imposition of redemption fine is not justified by law. There is no justifiable reason for the adjudicating authority to accept the value recommended by trade panel and there is also no finding to sustain the invoking of section 113 (i) of CA, 1962 - appeal allowed - decided in favor of appellant.
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