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2019 (2) TMI 1119 - CESTAT MUMBAIValuation of imported goods - rejection of declared value - contemporaneous imports - the compared imports are two months old - case of appellant is that the declared CIF value was much above the floor price prescribed by the DGFT - N/N. 36/2009-2014 dated 31.03.2010 - Held that:- It is settled law that the value for determination of Custom Duty in terms of Section 14 of The Customs Act, 1962 is based on the transaction value between the buyer and seller in course of international trade. It only when the transaction value is rejected or cannot be determined that value has to be determined by application of Rule 4 to 9 of Customs Valuation (determination of Value of Imported Goods) Rules, 2007. In terms of the rule 5 the value can be based on the value of contemporaneous imports. Contemporaneous imports for the purpose of Rule 5 can be those imports which are made on or about the same time. In the present case adoption of value in reference to imports made nearly two months back cannot be correct reflection of value of contemporaneous imports. When the compared imports are nearly two months old, and also no similarity has been established vis a vis the country/ place from where imported and quality and quantity the same cannot be said to be contemporaneous imports. The rejection of the transaction value in this case and enhancing the value of the imported goods on the basis of so called contemporaneous imports cannot be justified in this case. Licensing of import of Marble Blocks - N/N. 36/2009-2014 dated 31.03.2010 - Held that:- From the reading of notification it is quite evident, that it provides for entire scheme of licensing of import of Marble Blocks. It not only provides for the scheme of licensing but allows the license to be issued subject to actual user condition. It also provides for a mechanism of application for grant of license and also for monitoring of the imports made in terms of the license. By undertaking the imports of Rough marble Blocks, without proper import license appellants have contravened the provisions of Foreign Trade Policy read with Foreign Trade Regulation Act, 1993 and thus have rendered the goods liable for confiscation under Section 111(d) of the Customs Act, 1962. Appeal allowed in part.
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