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TMI Blog2017 (10) TMI 573X X X X Extracts X X X X X X X X Extracts X X X X ..... as not being transaction value - instead of following the sequences laid down in the Valuation Rules for redetermination of value, the department, for some reason, found it appropriate to work out the assessable value on the basis of market prices of the impugned item obtained through market enquiry. The enhancement is then certainly not based on sufficient reasons for rejection of transaction val ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rket enquiries were conducted by department wherein it was apparently found that actual retail sale prices of identical Rechargeable Lamps PRL-228 was ₹ 220/- per piece. Accordingly, show cause notice dt. 1.9.2006 was issued to appellant inter alia proposing rejection of declared value and determination of value at US$ 1.40 per piece, demand of differential duty of ₹ 1,50,908/- with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... luntary statement and in any case, same had been retracted in their affidavit dt. 30.1.2006 and letter dt. 1.2.2006; that no copy of bill was furnished by appellant; that Department is bound to accept the invoice value of the goods unless mutuality of interest between the importer and foreign supplier and payment of additional consideration is proved; that Department has not followed Valuation Rul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... transaction value. Even so, instead of following the sequences laid down in the Valuation Rules for redetermination of value, the department, for some reason, found it appropriate to work out the assessable value on the basis of market prices of the impugned item obtained through market enquiry. The enhancement is then certainly not based on sufficient reasons for rejection of transaction value a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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