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2022 (12) TMI 1338 - AT - CustomsValuation of imported goods - it is alleged that the declared value of the goods was lower than the values in the contemporaneous data of the similar goods imported - contemporaneous data of imports - rejection of declared value - opportunity was granted to the appellant for hearing or not - HELD THAT:- If the transaction value is rejected under rule 12 then the value of identical goods must be considered and if it is not available and the value of similar goods must be considered and if the value of identical or similar goods were both not available then the value can be deducted by considering the price at which such goods are sold in wholesale and after certain deductions. If such prices are also not available then the value can be computed by considering the cost of raw-material and fabrication cost plus other expenses. If none of these methods are possible then the residual method can be followed based on the above principles. In this case all the four Bills of Entry based on which the declared values were rejected were imported or the Bills of Entry were filed more than a month after the disputed Bill of Entry. From the Table we cannot make out as to which Customs House the goods in these Bills of Entry were imported from and in what quantities and from which country. Further, we find that the assessable value in these Bills of Entry were given in Rupees whereas the declared values in the Bill of Entry are in US dollars. It is not clear of what rate of exchange is applied to convert rupees into dollars to re-determine the assessable value under Rule 5. The rejection of the transaction value by the Deputy Commissioner is not in accordance with law. Consequently, its re-determination under Rule 5 cannot also sustain - in the impugned order the Commissioner (Appeals) did not discuss any issue related to rejection of transaction value and re-determination of the values - appeal allowed.
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