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2016 (8) TMI 829 - AT - CustomsCorrectness of enhancement of value of imported goods – import of polyester knitted fabrics - no evidence or allegation regarding the bonafideness of the import transaction or the invoices submitted by the respondent – Held that: - it has been repeatedly held by this Tribunal as well as Hon'ble High Courts that the transaction value cannot be rejected mechanically based on suspicion or general alert without supporting evidence to the effect that the invoice value does not reflect the transaction value required for assessment. Here, no evidence of any nature has been brought out or discussed before such enhancement. Even contemporaneous value of similar or identical goods have not been examined and discussed – no merit in Revenue’s appeal - appeal dismissed – decided against Revenue.
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