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TMI Blog2014 (5) TMI 202X X X X Extracts X X X X X X X X Extracts X X X X ..... ntemporaneous import of identical or similar goods i.e. cut & polished rubilite and emeralds of the same quality in comparable quantity at the prices which are sought to be adopted by the department - There is no justification for rejecting the declaration transaction value and as such there is no infirmity in the impugned order – Decided against Revenue. - Appeal Nos.171 of 2009-CU(DB) - Final Order No.50394/2014 - Dated:- 22-1-2014 - Shri G. Raghuram and Shri Rakesh Kumar, JJ. For the Petitioner : Shri Govind Dixit, DR For the Respondent : Shri Jatin Singhal, Advocate JUDGEMENT Per Rakesh Kumar: The respondent imported a consignment of cut and polished precious and semi precious stones, rough of semi precious s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... missioner (Appeals) vide order dated 16.01.2009 set aside the Addl. Commissioner s order holding that as there is absolutely no evidence of contemporaneous import of similar or identical goods in comparable quantity, there is no justification for rejection of the declared transaction value. Against this order of the Commissioner (Appeals), this appeal has been filed by the Revenue. 2. Heard both the sides. 3. Shri Govind Dixit, Learned Departmental Representative, assailed the impugned order and emphasized that the declared value of cut rubilite and cut emerald has been grossly underdeclared and this fact is clear from the fact that while the declared value of the cut rubilite and cut emerald is Rs.1.65 US$ per carat and Rs.1.25 per c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and in the order-in-original, we find that the experts have simply given the value without mentioning as to whether the cut polished rubilite and emeralds and rough rubilite are of the same quality or are of different quality. The value of the cut polished precious and semi precious stones depends upon their quality and grades and there can be wide variation on this basis. The opinion of the experts panel which has been relied upon by the Department does not mention the quality. It is not known as to whether the rough of rubilite whose declared value is US$ 25 per carat, is of superior grade/quality than the cut polished rubilite emeralds. Moreover, there is no evidence of contemporaneous import of identical or similar goods i.e. c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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