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2013 (11) TMI 38 - CESTAT MUMBAIProvisional Assessment - Transaction Value – Waiver of Pre-deposit - The goods were provisionally assessed and cleared on executing a bond and bank guarantee - Later on the department sought to finalise the provisional assessments and issued notices to the appellants for the same proposing to enhance the value – Held that:- The allegation of the department remains a mere allegation without any basis and that cannot be the reason for enhancement of values - no evidence has been adduced by the department to show that the values declared by the appellants are lower than the contemporaneous value of imports - No attempt has been made to collect data with regard to the prices declared for poppy seeds imported from various countries including Turkey and to compare the prices and arrive at a conclusion that the value declared in the present transaction cannot be accepted - In case the transaction value is rejected, then the department has to proceed sequentially through Rules 5 to 9 and determine the value in the course of international trade - Prices reported in journals/magazines and adoption of the same for the purpose of valuation is not one of the prescribed methods under Rule 5 to 9 and therefore they cannot be adopted or restored to. Prima facie the appellants have made out a strong case in their favour for grant of stay - The appellants have also agreed to keep the bank guarantees alive which they had executed at the time of provisional assessments - Pre-deposit of dues was waived against the appellant and stay recovery during the pendency of the appeals – stay granted.
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