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TMI Blog2017 (5) TMI 644X X X X Extracts X X X X X X X X Extracts X X X X ..... to be accepted as true and correct. Since the value/price of the iron ore fines is based upon the Fe content of the consignment, the value was, in our opinion, correctly worked out by the lower authorities. - appeal allowed - decided in favor of Revenue. - C/86923/2013 - A/86856/17/CB - Dated:- 4-4-2017 - Shri M V Ravindran, Member (Judicial) And Shri C J Mathew, Member (Technical) Shri M K Sarangi, Jt. Commissioner (AR) for the appellant Shri M H Patil with Shri M S Nagaraja, Advocates for the respondents ORDER Per: M V Ravindran This appeal is filed against Order-in-Appeal No:GOA/CUS /GSK/12/2013 dated 18/02/2013 passed by the Commissioner of Central Excise Customs (Appeals), Goa. 2. The issue that falls ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ived for the export consignment. 5. We find that this bench has settled this issue in the case of Hira Steel Limited 2016-TIOL-1692-CESTAT-MUM wherein the bench held as under: 8. The provisions as reproduced herein above, if read holistically would indicate that in any transaction, the terms of the agreement need to be given precedence and the value at the time and place of export as entered between two parties has to be considered for the discharge of duty liability. In the case in hand, the goods were presented for export and the taxable event is the point when the export goods are cleared for placing on board at the port of loading. It is also to be seen that the provisions of Section 14 specifically mandate for value paid or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es not undergo any change even for the reason that the goods are lost at sea. The exporter does not have a claim for refund. This was conceded by learned Counsel during his argument. If this principle is applied, which is the correct principle for valuation as per Section 14 of the Customs Act, 1962, the consignment having been declared to be unaccepted by the purchaser cannot be a reason for reduction in the value of the consignment as cleared from India. 11. As regards the reliance placed by the learned Counsel in the case of VGM Exports (supra) , we find that, in that case, these facts were not present. In that case, from the plain reading of the judgment of the Tribunal, the issue that required resolution was the attempt by Revenu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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