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TMI Blog2019 (4) TMI 597X X X X Extracts X X X X X X X X Extracts X X X X ..... ents holding 63.5% as standard Fe content and working back the value to demand additional duty from the appellant. This approach of lower authority seems to be inconsistent and not in accordance with the provisions of the Customs Valuation Rules. The provisions of Customs Valuation (Determination of Value of Export Goods) Rules, 2007, provisions of Rule 4 provides for determination of export value by comparison. In the case in hand, the consignment brought in for exports was comparable with the goods which were exported by M/s Bagadiya Brothers Pvt. Ltd., in January, 2010. The exports in this case are April, 2010 which about three months from the export consignment of M/s Bagadiya Brothers Pvt. Ltd. The First Appellate Authority was a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... basing price of 166 $ Per DMT (FOB) of M/s Fomento (Karnataka) Mining Company Pvt. Ltd., and after giving adjustment for percentage Fe content in the iron ore for finally fixed/re-determined the value of the iron ore exported to US $ 155 PDMT (FOB). It is his submission that against such an order, an appeal was preferred to the first appellate authority who set aside the Order-in-Original. Hence this appeal. It is his submission that the Adjudicating Authority was correct in coming to a conclusion that the iron ore exported needs to be re-valued based upon the content of iron ore and also contemporaneous export value. He would draw our attention to the findings recorded by the Adjudicating Authority. 4. On careful consideration of submis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n which the new FOB price was fixed. None of the export valuation rules support the valuation fixed by the Adjudicating Authority. In the absence of any proof that the appellants received the amount more than the declared price, I consider the declared FOB price of US $ 138 per DMT should be reckoned with to finalize the assessment. 5. We find that the First Appellate Authority was correct in making the above referred observations. It is on records, in the Order-in-Original itself there have been contemporaneous exports near about same quantity of iron ore with 61% Fe content at the price of US $ 116.50 PDMT (CFR). The Adjudicating Authority curiously did not accept this price was accepted by the exporters M/s Bagadiya Brothers Pv ..... X X X X Extracts X X X X X X X X Extracts X X X X
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