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TMI Blog2015 (7) TMI 148X X X X Extracts X X X X X X X X Extracts X X X X ..... decision of the Tribunal where the redemption fine was reduced to 10% and penalty to 5%. Our attention stands drawn to a latest decision of the Honble Punjab & Haryana High Courts decision in the case of B.E. Office Automation Products vide final order dated 18.11.2013, wherein the Honble High Court has held that keeping in view the element of wiping out of profit in the interface of expendit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rts. For better appreciation, for the reasons adopted by the Revenue, for enhancement of the assessable value, we reproduce the relevant paragraphs:- 5. As regards the enhancement of the declared assessable value is concerned, the same has been done on the basis of valuation proposed by the Chartered Engineer. In case of old and used goods, this is a regular practice as in such cases the invoic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ority. The assessable value has to be arrived at on the basis of the provisions of Customs Valuation Rules, 2007, which have been the subject matter of various decisions of High Courts, in which it stands held that the said rules have to be followed striatum wise and the transaction value has to be first rejected by producing sufficient and tangible evidence. The reference can be made to the Honb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he redemption fine was reduced to 10% and penalty to 5%. Our attention stands drawn to a latest decision of the Honble Punjab Haryana High Courts decision in the case of B.E. Office Automation Products vide final order dated 18.11.2013, wherein the Honble High Court has held that keeping in view the element of wiping out of profit in the interface of expenditure incurred on detention and de ..... X X X X Extracts X X X X X X X X Extracts X X X X
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