2001 (11) TMI 409 - AT - Customs

Summary

The appeal was against the final assessment of imported goods, specifically knitted velvet fabric, with a declared value of US $0.9 per meter FOB. Customs authorities valued the fabric at US $2.40 per meter CIF based on similar fabrics' prices from other entries. The appellant argued that this valuation was unjustified due to the different time periods of the imports being compared. The Tribunal agreed and remanded the matter for fresh consideration. The appeal was allowed by remand.