2018 (5) TMI 2014

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..... ssment unless proved to be wrong or affected by extraneous considerations. The Revenue has not rejected the transaction value first. The Appellate Authority has referred to precedent decisions holding to that effect. As such, the Commissioner (Appeals) is fully agreed upon that in the absence of rejection of the transaction value, Revenue cannot proceed ahead to redetermine the value in terms o .....

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..... we find no reason to stay the operation of the same. As such after rejecting Stay Petition, we proceed to decide the appeal itself as the issue lies in a narrow compass. 2. As per the facts on records respondent filed Bill of Entry for clearance of Non Textured Polyester PA Coated Fabric . The assessing officer rejected the declared value on the Bill of Entry itself and re-determined the valu .....

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..... vered by Rule 4(2) exception, the assessment has to be done on the transaction value. 3. The Revenue has again reiterated their stand that in the absence of specifications of the product, the value cannot be determined under Sub-rule 1 of Rule 3. Identical goods showing the necessary specification and comparable quantity of the imported goods were not notice by the Commissioner (Appeals) and as .....

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