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2017 (6) TMI 259 - AT - CustomsValuation - export goods - manmade fibres, polyster, knitted gents t-shirts and 65% cotton + 35% polyster boys shirts - market enquiries were conducted from two manufacturer exporters who opined that the export goods were overvalued to the extent of about 35%. The Department also obtained the opinion of the Chartered Engineer Shri R.K. Agarwal, who suggested that the goods were overvalued to the extent of about 45% - Held that: - it is seen that neither of these facts have been cited in the adjudication proceedings against the appellant. The value of the export goods have been re-determined essentially on the basis of the revised cost sheet which the appellants were not contesting the reduction in value - we find no reason to interfere either with the reduction in the declared value or in the restriction imposed on the drawback. In the present case, there are no valid reasons for rejection of the transaction value. There is no justification for confiscation of the export goods as also imposition of penalties u/s 114 and Section 114 (AA). Appeal allowed - decided partly in favor of appellant.
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