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2019 (12) TMI 738 - CESTAT BANGALOREValuation of imported goods - import of old and obsolete Aircraft - rejection of transaction/declared value - redetermination of value on the basis of contemporaneous import made at Nhava Sheva Port - Confiscation - redemption fine - penalty - HELD THAT:- The appellant has imported these two aircrafts after obtaining permission from the Department of Civil Aviation and after getting a license from DGFT. The Department has re-determined the value only on the basis of alleged contemporaneous import through Nhava Sheva where the value was determined at ₹ 87,35,238/-. Further, at the time of making the statement, the Chairman of the Institute produced original invoice No.1709 dated 11.10.2008 from M/s J&S Aviation showing total value of the goods at USD 201025 equivalent to ₹ 98,90,438/-. Further, the Adjudicating Authority has admitted that there is a difference in the year of manufacture of the aircraft imported in Nhava Sheva compares to the aircraft imported by the appellant. There are no reason for the Revenue to reject this transaction value - further, these aircrafts imported by the appellant is a junk and unworthy but useful for school of AME studies and there is not enough avionic equipments as per the report of the Chartered Engineer placed on record. The re-determined value of ₹ 1,60,14,576/- is not the correct valuation whereas the Customs duty should be assessed as per the invoice value of USD 201025 equivalent to ₹ 98,90,438/- - the impugned order set aside - case remanded back to the Customs Authorities to re-assess the value on the basis of original invoices placed on record - redemption fine and penalty upheld. Appeal allowed by way of remand.
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