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TMI Blog2012 (9) TMI 463X X X X Extracts X X X X X X X X Extracts X X X X ..... n of the goods revealed that the ceiling lamp was fitted with bulb & CFL - Revenue entertained a view that the goods were mis-declared and there was an incomplete declaration. They also felt that on above account the invoice did not reflect the correct value – Held that:- There is virtually no evidence on record to reject the transaction value. Further there is neither any reference nor any eviden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner (Appeals). 2. As per facts on record the appellant filed a bill of entry dated 7-3-2006 declaring the goods as lighting fixtures with the total assessable value as US $ 7481.21 equivalent to Indian Rs. 3,34,038.70. The said goods were imported by the appellant from a trading company at Macau and the goods were found to be of Chinese origin. The goods were described in the import inv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the goods with redemption fine of Rs. 1.50 lakhs and imposing separate penalties of Rs. 50,000/- each on both the appellants i.e. M/s. Deepak International as also on its Proprietor Shri Deepak Bansal. 4. Appeal against the above order of the original adjudicating authority did not succeed before Commissioner (Appeals). Hence the present appeal. 5. The main and basic contention of the appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty has upheld the order of the lower authority basically on the ground that the assessable value at the time of import is a deemed value and has to be arrived at in terms of the Section 14(1) of the Customs Act, read with the Customs Valuation Rules. He has simply observed that the methodology adopted by the lower authorities is correct and as the reflection of the statement was after three days, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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