2016 (9) TMI 471

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..... : - though enhancement of value is found to be sustainable, it is clear that there is no malafide or mensrea on the part of the appellant, when it declared the value in the Customs documents and the enhancement of value is the result of the legal provisions regarding determination of the assessable value for the customs purposes – confiscation and penalty set aside – enhancement of value upheld – .....

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..... nd sought the opinion of the Chartered Engineer who vide his letter dated 08.11.2013 had opined that the value of the goods is ₹ 5,04,561/-. The Department initiated show cause proceedings against the appellant on the ground that the goods covered under the shipping bill dated 20.01.2012 are highly overvalued. In the adjudication order dated 09.05.2014, the Addl. Commissioner of Customs ha .....

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..... dvocate appearing for the appellant submits that high speed steel tapes are specialized items and its export price cannot be equated with the costing/market value of the general products. Further, there are no contemporaneous exports brought on record to substantiate overvaluation. The ld. Advocate also submits that there is no malafides on the part of appellant in defrauding the Government Reven .....

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