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2017 (9) TMI 1211 - AT - CustomsValuation of imported goods - polyester spun yarn - enhancement in value based on Directorate of Valuation data (DoV data) - Held that: - It is well settled law that transaction value has to be accepted as the assessable value for the purpose of duty, unless the same is proved to be incorrect by production of any evidence. The said legal issue is settled by various decisions of the Tribunal in the case of Venture Impex Pvt. Limited vs. CC (Import & General), New Delhi [2016 (4) TMI 368 - CESTAT NEW DELHI], while setting aside the enhancement of the value on the basis of NIDB data, it was held that for adopting any other method for enhancement of the value of the imported goods, first of all transaction value is required to be rejected as incorrect/false on the basis of some evidences. It is only thereafter that the other method of deciding value has to be adopted. At the time of assessing the bills of entry, no evidence stand given for enhancing the value and the same has been done only on the basis of DoV data, by observing that similar goods stand imported at the higher value. No further details are available as to how the present consignment is similar to the earlier imports - The Revenue has neither alleged nor produced any evidence on record to indicate that the value agreed upon between the buyer and the seller or as reflected in the invoices is not a correct value, thus justifying the enhancement. Appeal allowed - decided in favor of appellant.
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