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2019 (10) TMI 969 - AT - CustomsValuation of imported goods - rejection of transaction value - enhancement of declared value - whether the Revenue can enhance the declared value of the goods under import, without rejecting the transaction value/declared price, as provided in Section 14 of the Customs Act? - HELD THAT:- The declared transactions value can only be rejected with cogent reasons by undertaking the exercise as to on what basis the paid price was not the sole consideration, or the transactions value. Since, no such exercise is done by the Court below to reject the price declared or the transaction value in the bills of entry, the orders of Court below is erroneous and fit to be set aside. The adjudicating authority was bound to accept the transaction value declared by the appellant importer, and erred in rejecting the declared price without recording any finding for rejecting the same, as required under Section 14 of the Customs Act. Appeal allowed - decided in favor of appellant.
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