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2020 (1) TMI 671 - AT - Central ExciseValuation of manufactured goods - ‘Reebok’ brand shoes - rejection of declared value - it was alleged that various raw materials imported by the appellants were alleged to be undervalued on their import into India - appellant has submitted that there were no allegations in the show cause notice that the price at which the goods were sold by the appellant to the buyers was not the sole consideration - extended period of limitation. HELD THAT:- It is clear from the precedent decision of this Tribunal in GURU NANAK REFRIGERATION CORPN. VERSUS COLLECTOR OF C. EX., NEW DELHI [1995 (10) TMI 115 - CEGAT, NEW DELHI] affirmed by Hon’ble Supreme Court of India in COLLECTOR OF C. EX., NEW DELHI VERSUS GURU NANAK REFRIGERATION CORPN. [2003 (3) TMI 100 - SUPREME COURT] that if there are no allegations that there was no price at which the goods were sold by the appellant and if there are no allegations that the price was not the sole consideration for the sale and if there were no allegations that the buyers were not at arm’s length and if there are no allegations that there was flow back of money from the buyers to the assessee then revenue cannot reject the price declared by the appellant. In the present case there were no allegations that the price of the goods was not available. In fact the goods were cleared by the appellant during the relevant period with total assessable value of ₹ 28,99,988/- as stated in the show cause notice - also there were no allegations in the show cause notice that price was not sole consideration for sale and there were no allegations that there was any flow back of money from the buyers to the appellant. Therefore, there are no grounds for holding that the appellants have undervalued there clearances during the period from August, 1996 to December, 1996. Appeal allowed - decided in favor of appellant.
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