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2019 (4) TMI 1188 - AT - CustomsValuation of imported goods - FAG ball bearings - undervaluation - rejection of declared value - enhancement of assessbale value - HELD THAT:- The enhancement has been effected on the basis of the published price of the manufacturer after extending permissible discount and the adjudicating authority has restricted the duty liability to 70% of the list price of 2002/01/1st March 2002. The rejection of the declared value cannot be cause of cavil as the declared value of the imported goods were not in consonance with the price list for the said goods. However, the applicability, and validity, of the price list for determining the value under section 14 of Customs Act, 1962 is questionable for not being consistent with section 14 of Customs Act, 1962 and rule 4 of Customs Valuation (Determination of Value of Imported Goods) Rules, 1988 - The proper officer is required to take recourse to the rules sequentially. Assessment of imported goods requires that each of the Rules, pertaining to identical or similar goods, rejected with cogent reason before proceeding to invoke rule 8 of the said Rules. In the absence of such sequential application, the adjudication order, and the impugned order upholding it, cannot be said to be correct in law. Matter is remanded back to the adjudicating authority for fresh consideration of the value in accordance with Section 14 of Customs Act, 1962, including the Rules framed thereunder - appeal allowed by way of remand.
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