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2017 (6) TMI 988 - AT - CustomsValuation - rejection of declared value on the basis of contemporaneous imports which were at higher price of USD 22-25 per kg, whereas the declared value was USD 15.25/kg - Held that: - The department has no case that any amount higher than the agreed contract price has been received by the assessee. So also there is no discrepancies brought out with regard to the contract or in respect of supplier being related. When all such elements do not raise any doubt, in our view the enhancement cannot be based merely on contemporaneous imports. The time, place, the relationship of parties as well as the quantity to be supplied are all factors which have influence on the price fixed in the contract. This being so, the enhancement is without basis. On identical set of facts, the Tribunal in the case of Pushpanjali Silks Pvt Ltd [2006 (3) TMI 515 - CESTAT, CHENNAI] has held that the transaction value cannot be enhanced merely basing on contemporaneous imports. The enhancement of transaction value is unjustified - appeal allowed - decided in favor of appellant.
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