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2020 (1) TMI 482 - AT - CustomsValuation of imported goods - Ball Valves and Bibcock - allegation of undervaluation of goods - the value is sought to be enhanced on the basis of proforma invoice which is issued by the exporter to some other importer in India and not in the name of the appellant - Confiscation - redemption fine - penalty. HELD THAT:- It is on record that the bills of entry were assessed by the Proper Officer and the assessable value was determined by him and it was not challenged either by the appellant or by the department. In course of enquiry, a proforma invoice was recovered showing a different price from that as shown in the invoice submitted at the time of import. However, it is observed that the proforma invoice is not issued in the name of the appellant. Otherwise also the price quoted in a proforma invoice cannot be held as the actual prices since the price of goods are settled after negotiation between the two parties. The revenue has not produced any document to prove that there was any extra payment made by the appellant towards purchase of the said goods. The confiscation of the goods and imposition of penalty are consequential to the alleged under valuation of the imported goods by the appellant - Since there are no sufficient grounds as required for enhancement of assessable value, imposition of redemption fine in lieu of confiscation under Section 125 of the Customs Act, 1962 and imposition of penalty under Section 112 of the Customs Act, 1962 on the appellant is not sustainable - appeal allowed - decided in favor of appellant.
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