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TMI Blog2015 (12) TMI 786X X X X Extracts X X X X X X X X Extracts X X X X ..... asmuch as the value of the same would depend upon the number of factors including the usage years as also the condition of the goods. The Appellate Authority has rejected the transaction value by observing that the appellant has not produced any evidence to substantiate the same. We find no merits in the above reasonings of the Commissioner (Appeals). The appellant having produced the invoice, in support of its declared value, has done his part of the duty. If the Revenue is not happy with the said declared transaction value, it is they who have to produce the evidence. There being none in the present case, we find no reasons to enhance the assessable value. - Redemption fine and penalty is reduced - Decided in favour of assessee. - C/392/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with an option to the assessee to redeem the same on payment of redemption fine of ₹ 3 lakhs and imposed penalty of ₹ 50,000/-. 4. On appeal against the above order, the Commissioner (Appeals) upheld the violation of the provisions of the Foreign Trade Policy. However, as regards valuation, he agreed with the appellant that details of the contemporary imports are not available in the impugned order. However, he rejected the assessee s stand that the transaction value should be accepted by observing that the appellant have not been able to produce any evidence to substantiate the transaction value. He, accordingly, rejected the assessee s submissions on enhancement of the value. However, he reduced the redemption fine to S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e transaction value by observing that the appellant has not produced any evidence to substantiate the same. We find no merits in the above reasonings of the Commissioner (Appeals). The appellant having produced the invoice, in support of its declared value, has done his part of the duty. If the Revenue is not happy with the said declared transaction value, it is they who have to produce the evidence. There being none in the present case, we find no reasons to enhance the assessable value. 9. However, as the appellant have admitted violation of Foreign Trade Policy, the goods are confiscable and penalty is imposable. Keeping in view that we have set aside the findings of the undervaluation, we reduce the redemption fine to ₹ 75,000/ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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