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TMI Blog2016 (11) TMI 335X X X X Extracts X X X X X X X X Extracts X X X X ..... tance is found then the transaction value indicated in Rule 4(1) will have to be rejected and further determination have to be made under Rule 8 - None of the authorities advert to this Rule or say for what reasons as provided under Rule 4(2) the transaction value will have to be rejected. The show cause notice does not justify rejection of value declared under rule 4 of the Customs Valuation (Determination of Price of Imported Goods) Rules, 1988 - appeal dismissed - decided against Revenue. - C/1207, 1208, 1211 & 1212/2004 - A/90591-90594/16/CB - Dated:- 29-3-2016 - Shri M V Ravindran, Member (Judicial) and Shri C J Mathew, Member (Technical) Shri Ahibaran, Addl. Commissioner (AR) for the appellant Shri Narendra Dave, Chart ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s) Rules, 1988. It was claimed that M/s Essel Corporation, USA owned both M/s Structural Europe, Belgium and M/s Structural Asia Pvt. Ltd. and that a corporate group decision had been taken to relocate operations to Goa, and it was alleged that the transfer of the proprietary machines was not an open market transaction. However, the adjudicating authority was not convinced by the evidence supporting the allegations and dropped the proceedings which Revenue is aggrieved with. Revenue contends that, owing to the relationship between buyer and seller, the declared value does not reflect the transaction value. The decision to transfer the equipment was an internal one and not in the course of ordinary sale. It is their submission that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the corporate headquarters has been brought on record. In our decision supra in re IS Corporation, the incorrectness of adopting insurance value is expressed in : 9.1 The demand is mainly based upon the higher value of goods shown in some of the insurance policy of imported goods which was issued in the name of the supplier of the goods M/s Brightex Corporation. We find that such higher value is not appearing in all the insurance policy but only in case of few consignments. We agree with the submission made by the Appellants that the value shown in such policies cannot be ground to enhance value as such value might have been shown to get higher amount of compensation in the event of goods getting lost or destroyed and that Appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns must exist for recourse to other rules: 4. Transaction value. - (1) The transaction value of imported goods shall be the price actually paid or payable for the goods when sold for export to India, adjusted in accordance with the provisions of Rule 9 of these rules. (2) The transaction value of imported goods under sub-rule (1) above shall be accepted: Provided that - (a) the sale is in the ordinary course of trade under fully competitive conditions; (b) the sale does not involve any abnormal discount or reduction from the ordinary competitive price; (c) the sale does not involve special discounts limited to exclusive agents; (d) objective and quantifiable data exist with regard to the adjustme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of the goods in question in such matters as has been laid down in Rule 4(1), the transaction value will have to be determined and under the Rule 4(2), if any exceptional circumstance is found then the transaction value indicated in Rule 4(1) will have to be rejected and further determination have to be made under Rule 8. 4. That procedure has not been followed in this case. None of the authorities advert to this Rule or say for what reasons as provided under Rule 4(2) the transaction value will have to be rejected. In these circumstances, we allow this appeal, set aside the order made by the authorities and hold that the Bill of Entry as made by the appellant shall be accepted. The appeal is allowed accordingly. If any payment has be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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