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TMI Blog2017 (3) TMI 650X X X X Extracts X X X X X X X X Extracts X X X X ..... ap. Both will vary in quality and value - no attempt has been made by the Revenue to examine the contemporaneous price of similarly situated market in India, so that a comparison could have been made for examining the correctness of transaction value adopted by the appellant. The whole proceedings for demanding differential duty was solely on the ground that LME price of copper ingot as well as tariff value for import of brass scrap which were much higher and accordingly, the transaction value is held to be not correct - appeal allowed - decided in favor of appellant. - E/2177/2008-[DB] - Final Order No. 50781 /2017 - Dated:- 9-2-2017 - Mr. S.K. Mohanty, Member (Judicial) and Mr. B. Ravichandran, Member(Technical) Mr. Manish Saharn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t appropriate for the simple reason that metal manufactured by them is a recycled ingot and further the tariff value fixed for scrap for import is only for determining the Customs duty and not the transaction value. 3. The Ld. AR reiterated the findings in the impugned order and submitted that the transaction value is not acceptable on the very basis that manufacturer using the imported raw material cannot declare a lesser value of the finished ingots than the price paid for imported scrap. He reiterated that Section 14 provides for redetermination of transaction value based on the concept of consideration payable . The amount actually paid is not the sole criteria for determining the value. 4. We have heard both the sides and peruse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the tariff value for this scrap is fixed for determining customs duty on import. This is not to be considered automatically as the cost of raw material suffered by the importer. The original authority erroneously recorded that the value of goods produced cannot be below the cost spent on the raw material. The tariff value fixed for raw material need not be the cost spent on the raw material. There is no evidence to the effect that the appellant did spent amount equal to tariff value at the time of import of brass scrap. Even otherwise, the transaction value in the domestic market is admittedly market driven and the transaction is between unrelated party, the same cannot be brushed aside on the basis of existence of higher price as per the l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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