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2019 (5) TMI 394 - AT - CustomsValuation of imported goods - rejection of declared value - enhancement of transaction value - Absence of contemporaneous imports - challenge to assessment orders - HELD THAT:- Initially value has been enhanced by the adjudicating authority on the basis of the alert issued by DGOV Alert Circular No.14/2005 dated 16.12.2015. The said alert cannot be the basis to reject the transaction value, in the absence of any contemporaneous import of the similar or identical goods during the relevant time. Also, after rejecting the declared value, no order under Section 17 (5) of Customs Act has been passed by the adjudicating authority. Thus, the LME price cannot be the basis to enhance the declared price, in the absence of any contemporaneous value of the imported goods is available on record - the transaction value has been enhanced arbitrarily without any evidence on record. The declared value of the imported goods declared by the appellants cannot be accepted - appeal allowed - decided in favor of appellant.
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