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2022 (12) TMI 324 - HC - CustomsSeizure of assorted diamond studded jewellery - Section 111(l) of the Customs Act, 1962 - HELD THAT:- Section 14 of Customs Act, 1962 states that the valuation of import and export goods shall be the transactional value of such goods, i.e. the price actually paid or payable when they are sold. This is the primary criteria for the valuation of goods. All the three Authorities have given effect to this primary position. The fact that the Petitioner arrived in India from South Africa, and was intercepted and found in possession of the jewellery in contravention of the provisions of the Act, has been established. We are not shown any statutory provision that mandates the Respondent Custom Authorities that if they call for Trade Panel's Report, they are bound by the same, and the basic principle of transactional value no longer applies. Even otherwise, if the report of the Trade Panel is to be made the foundation of, the same is not found reliable. The Authorities have commented on the same. The Commissioner has observed that from the Trade Panel's Report, it is unclear whether they had valued the goods for import or export purposes, and it is not clear whether these are domestic prices or the goods prevailing in South Africa. The Commissioner thus observed that the report lacks material and does not meet the requirements for giving the status of reliable evidence having a probative value. Therefore, the Authorities, as a matter of fact, have found that the report is not satisfactory. The Respondent cannot be directed to accept the report when it was found to be unreliable. The Respondent Authorities have gone by the basic criteria of valuing the goods in question by considering the transactional value based on invoices found in possession of the Petitioner himself. Despite the same, Authorities at each stage have taken a lenient view and have reduced redemption and personal fines. Petition dismissed.
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