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2014 (1) TMI 478 - CESTAT NEW DELHIValuation of goods - Mis declaration of goods - whether the declared transaction value of the goods imported from M/s. Neworb Corporation Limited, Hong Kong, is acceptable or not - Held that:- The only reason for rejecting the declared value, as mentioned in show cause notice, is that the declared value is less than the price of raw-material - stainless steel, glass, plastic, etc. In our view this ground mentioned in the show cause notice is absurd, as it is not even mentioned as to whether the price of raw-material mentioned is the price in the country of manufacture or the price in India. No contemporaneous imports of identical or similar goods in comparable quantity at higher price have been cited. Just because in respect of two imports of like goods made by the appellant at JNPT, Nava Sheva, the customs authorities there increased the declared value without passing any reasoned and detailed order, the value of the goods in respect of these consignments can not be rejected. Even the basis of determining the value of the goods under Rule 7 of the Valuation Rules, is incorrect, as the wholesale prices of the goods quoted by M/s. Orma Lights are sought to be adopted for determining the assessable value in this case, but as observed by the Commissioner in the finding portion of the impugned order, Sh. Manoj Gupta, Proprietor of M/s. Orma Lights has disowned his signature on the quotation and on verification by forensic expert, Lucknow, the signatures of Sh. Manoj Gupta on the quotations were not found to be his genuine signatures. There is absolutely no justification for rejecting the declared transaction value and as such neither there is any misdeclaration of value nor there is any justification of confiscation of the goods on this account and the duty demand on this basis, confiscation of the goods and imposition of penalty on this basis, is liable to be set aside. As regards the allegation of misdeclaration of description, when except for some un-declared items, other goods are broadly as per declared description, this allegation does not sustain. However, only the items which were not declared at all in the bill of entry, would be liable to confiscation under Section 111(l) - Decided in favour of assessee.
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