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2015 (11) TMI 82 - CESTAT NEW DELHIValuation – Import of Worn Clothing – Value enhanced to US$ 1.40 per KG from US$ 0.80 – Goods confiscated with redemption fine and penalty - Appellant contended that upward revision of value was not as per law as transaction value has to be accepted in absence of any evidence to reject the same - Transaction value first needs to be rejected before determining value – Held that:- Goods involved in present case are worn garments whose value depends upon the condition, quality and nature of goods and in the absence of goods, it is impossible to arrive at the correct value thus there was no legal basis available to Commissioner (Appeals) to enhance value from US$ 0.80 per KG to US$ 1.40 per KG - Confiscation is legally sustainable as appellant did not have any import licence - Redemption fine determined on a reasonable basis having regard to margin of profit and penalty imposed is in no way arbitrary or unreasonable – Decided partly in favour of assessee.
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