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2024 (1) TMI 1087 - AT - CustomsValuation of imported goods - PTFE Thread Seal Tape - correctness of the declared value which were alleged to be not on par with the contemporaneous imports in other ports - HELD THAT:- Nothing is said about the commercial level and the quantity involved in those transactions to conclusively establish that the so-called contemporaneous imports were in fact of ‘similar goods’ within the meaning of Rule 2(f) ibid. Having alleged about the contemporaneous imports, the adjudicating authority could have at least brought on record or in the Order-in-Original the details of the alleged contemporaneous imports, mere mentioning of dates and Ass. Value is not a sufficient compliance with the requirements of the statute. So also, with regard to the so-called market survey done behind the back of the appellant, nothing apparently is placed on record and hence, both the so-called alleged contemporaneous imports and the market survey is to be ignored. Moreover, the requirements of the statute are that the imports should be of identical or similar goods and such imports should be at or about the same time as the import in question. This Bench in the case of COMMISSIONER OF CUSTOMS VERSUS M/S. SREE RAJENDRA TEXTILES [2023 (8) TMI 265 - CESTAT CHENNAI] has considered in depth the issue of re-valuation of imported goods on the basis of contemporaneous imports and held the lower adjudicating and assessing authorities have to necessarily consider all the commercial factors to arrive at contemporaneous prices of identical or similar goods before resorting to enhancement of the declared transaction values in terms of Rule 4 or Rule 5 of Customs Valuation (Determination of Value of Imported Goods) Rules, 2007. The ratio of the above order is clear, the re-valuation attempted by the Revenue has been set at naught for lack of merits by the Bench. There are no justifiable reasons to sustain the impugned order - appeal allowed.
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