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TMI Blog2024 (5) TMI 629X X X X Extracts X X X X X X X X Extracts X X X X ..... duty under protest. The dispute in the present case pertains to value of Iron Ore fines exported by the appellant for the purpose of payment of customs duty. 2. The appellant had exported the goods in line with contract dated 30/10/2010, which stipulated supply of 50,000 WMT of Iron Ore fines at a price of USD 150 MT and the total value was USD 75,00,000/-. The contract also provided that if the Fe content goes below 62%, down to 61%, USD 144 MT would be charged. If the Fe content goes below 61%, the goods will not be accepted. 3. On 08.03.2011, Inspectorate Graffith India Pvt Ltd had issued the inspection report of the cargo wherein the Fe content was stated as 61.25% and moisture as 5.57%. On the basis of the aforesaid analysis report ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t (%) Unit Price in $ 1 789/22.2.11 Global Associates 62 170 FOB 2 791/22.2.11 R. Piyarellal Iron & Steel 62 146 FOB 3 808/23.2.11 Falgun Exports 62 161.25 FOB (185-23.25) 4 Gp.61/2.3.11 Rashmi Metalliks 62 147 FOB (173- 26) 5 705/18.2.11 Bagadiya Bros. 62 155 FOB 6 743/18.2.11 Stemcor India Subject SB 62 133.5 FOB (150- 16.5) 6. Based on the data of contemporaneous export prices, the Adjudicating Authority observed that the unit value declared by the appellant was lower than the contemporaneous export prices of similar goods of Fe content of 62% for the relevant period. Thereby, the Authority adopted contemporaneous price of the goods as USD 170 MT for final assessment of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lant preferred appeal before the Commissioner (Appeals), who vide impugned Order-in-Appeal dated 19.01.2015 was pleased to reject the appeal with the observation that the assessing authority has reasoned out the adjustments in terms of the commercial levels and quantity levels in the unit price adopted on the basis of contemporary export price and complied with the order of the predecessor Commissioner (Appeals). Being aggrieved, the appellant is in appeal before this Tribunal. 10. Learned Counsel for the appellant - Ms. Shreya Mundhra, inter alia, urges that in the absence of any reasonable doubt, adopting the contemporaneous price is grossly incorrect. She inter alia urges that unless the transaction value is rejected in accordance with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es [2023 (10) Centax 175 (Tri-Mad)]. 12. No further query was raised in the present case as stipulated under Rule 8 and the Department did not follow the procedure before taking the decision to reject the declared unit price and finalise the assessment. Thus, the entire proceedings are vitiated in light of non-compliance of Rule 8 of the Valuation Rules. 13. It is further urged that without prejudice to contemporaneous price adopted by the authorities, without providing any evidence to the appellant, no evidence whatsoever has been referred by the departmental authorities for the alleged data of contemporaneous export price relied upon. Neither copy of shipping bill, invoice, contract, etc., have been provided nor have the data in respect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmissioner vs Sanjeevani Ferro Alloys [AIR 2019 SC 203], wherein it was held that unless the transaction value is rejected for the reasons recorded in accordance with law, the Customs Officers cannot resort to revaluation inter alia increase the price stated by way of transaction value. 16. Learned Counsel further urges that the finalization of the shipping bill is contrary to the Board circulars issued by the Revenue from time to time, particularly, circulars dated 09/10/2007 on 17/11/2014, which lay down specific guidelines to be followed for the valuation in respect of export of iron ore. Both these circulars emphasise acceptance of the transaction value of export goods for the purpose of assessment. Circular dated 17/11/2014 specifical ..... X X X X Extracts X X X X X X X X Extracts X X X X
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