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2016 (5) TMI 829 - CESTAT MUMBAI

2016 (5) TMI 829 - CESTAT MUMBAI - 2016 (338) E.L.T. 723 (Tri. - Mumbai) - Import of Star Aniseeds - Mis-declaration of declared value - Enhancement of value on the basis of Spices Market Weekly - Held that:- a value declared by an importer who had imported the consignment four months, after the consignment cleared, is not in consonance of the provisions of the Customs Act, as on the day of import there seems to be no contemporaneous imports and the value declared by the appellant was accepted. .....

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tition of any amount over and above the invoiced value. Therefore, in the absence of any such evidence, rejection of transaction value as declared is incorrect and such order is unsustainable. The ratio of the decision of Hon'ble High Court in the case of Basant Industries [1995 (1) TMI 89 - SUPREME COURT OF INDIA] and the decision of Tribunal in the case of Kanhaiyalal & Co. [2003 (8) TMI 423 - CESTAT, MUMBAI], would directly apply to the present case. - Decided in favour of appellant - Appeal .....

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aid declared value was rejected based upon Spices Market Weekly price and enhanced to US $ 7490 /MT by the adjudicating authority, on an appeal filed before the first appellate authority, after following due process of law, the first appellate authority rejected the appeal based upon the finding that declared value is ridiculously low. 3. Ld. Counsel would submit that the appellant had imported the consignments of Star Aniseed in the month of January 2001 and country of origin was Vietnam and de .....

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he decision of the Supreme Court in the case of Basant Industries - 1996 (81) E.L.T. 195 (S.C) for the proposition that comparison of invoices is not conclusive for determination of question of under valuation. It is his submission that the Tribunal in the case of Radhey Shyam Ratanlal - 2005 (190) E.L.T. 244 has laid down that declared value has to be accepted, if it is transaction value unless the same is rejected and found incorrect, then only Valuation Rules are applicable and contemporaneou .....

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in the Spices Market Weekly was shown as US $ 7490 /MT. Since the value was ridiculously low, the same was rejected and contemporary imports value was used for demanding deferential duty. He would submit that the Apex Court in the case of Shibani Engineering Systems 1996 (86) E.L.T. 453 (S.C.) has held that assessing officer can rejected the transaction value of the goods, if it is ridiculously low and totally unrealistic. 5. We have considered the submissions made by both the sides and perused .....

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