2015 (8) TMI 95 - SCH - Customs

Valuation - Tribunal has observed that, The market enquiry report is also not available in the records for our perusal. Simply on the basis of the appellant s acceptance of the enhanced value when his statement was recorded, enhancing the assessable value without adhering to the principles of natural justice cannot be sustained. The vague assertion that market enquiries have been made without indicating the details of the same and fixing the duty liability on the importer on the basis of the same cannot be accepted. - Held that - No merit in the submissions made by the revenue - appeal dismissed - Decided against Revenue.

Summary

The Supreme Court dismissed the civil appeal challenging the Custom, Excise & Service Tax Appellate Tribunal's decision. The Tribunal's findings were based on the lack of market enquiry report and failure to adhere to natural justice principles. The appeal was allowed with consequential relief, but the Court refuted the arguments of the appellants' counsel, leading to the dismissal of the appeal.