Home Case Index All Cases Customs Customs + AT Customs - 2018 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (7) TMI 453 - AT - CustomsImposition of penalties - undervaluation of imported goods - enhancement of value not based on contemporaneous imports - no evidence for enhancement of value - Held that:- It is well settled law that such transaction value has to be first rejected as incorrect value before the Revenue proceeds to enhance the value of the imported goods in the light of the valuation rules, which have to be followed sequentially. The said rejection of the transaction value has to be on the basis of sufficient, positive & tangible evidences - In the present case, no efforts on the part of the Revenue to first reject the transaction value and then proceed to enhance the value by referring to any contemporaneous imports. There is virtually no evidence for establishing the value of the goods on the lower side so as to enhance their value - there is no justification for enhancement, which has led the revenue to impose penalties upon the appellants - penalties set aside - appeal allowed - decided in favor of appellant.
|