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2017 (9) TMI 204 - AT - CustomsValuation of imported goods - magnets of various grades and sizes - It appeared to the department that the declared value was low and hence the declared value was enhanced on the basis of contemporaneous import of magnets (N35 and similar goods) as unit price INR 1300 and ferrite magnets as INR 300 per kg - case of appellant is that the department has however bunched all the magnets together for adhoc uniform enhancement price - Held that: - It is noted that the commercial invoice accompanying the imported goods indicate the price therein as USD per piece. From the details of the contemporaneous imports submitted by the appellant during hearing, it appears that the pricing therein is also per piece If this be the case, it is not understood how and why the department has chosen to adopt per kg method of assessment if that is not the internationally accepted practice by foreign sellers and by the importers in India. Release of goods - Held that: - almost nine months the goods have been lying in the custody, presumably in the Docks at least for nine months. The appellant has a point in his contention that the magnetic properties of the imported goods would deteriorate over long periods of storage - the prayer for interim relief should be considered sympathetically and at the same time protecting the interest of Revenue to the extent possible and the resolution of this dispute will require denovo consideration of the matter by the adjudicating authority. Provisional release of the impugned goods will be allowed to the appellant on payment of deposit - For the purpose of assessment, the original authority will immediately take up denovo adjudication in the matter for arriving at the assessable value in respect of imported goods for the purpose of levy of customs duty by way of duties of customs - appeal allowed in part and part matter on remand.
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