2014 (1) TMI 1784

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..... Ltd. - Held that: - It is a case wherein the shipping line sought amendment in IGM only to change the name of the consignee and no other amendment regarding change in either the gross weight or the number of coils. In these circumstances, the observation of the learned Commissioner that it may be an effort to suppress the transaction value is not sustainable without producing any evidence on reco .....

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..... facts of the case are that the shipping agency applied for an amendment in IGM on the ground that initially the goods were consigned to M/s. DM Sons Metal Pvt. Ltd., who did not accepted the cargo therefore, the supplier sold the goods to the appellant M/s. Turakhia Ferromet Pvt. Ltd. In this circumstance, an amendment in the said IGM was sought by the shipping line. The learned Commissioner asked .....

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..... t there may be variation in transaction value or there is contemporaneous import of such items wherein the value is higher. As no concrete finding has been given by the learned Commissioner, imposition of redemption fine and penalty on presumption basis is totally unwarranted. Therefore, the impugned order is set aside and the appeals are allowed with consequential relief, if any. (Dictated in .....

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