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TMI Blog2022 (12) TMI 324X X X X Extracts X X X X X X X X Extracts X X X X ..... cepted and found in possession of the jewellery in contravention of the provisions of the Act, has been established. We are not shown any statutory provision that mandates the Respondent Custom Authorities that if they call for Trade Panel's Report, they are bound by the same, and the basic principle of transactional value no longer applies. Even otherwise, if the report of the Trade Panel is to be made the foundation of, the same is not found reliable. The Authorities have commented on the same. The Commissioner has observed that from the Trade Panel's Report, it is unclear whether they had valued the goods for import or export purposes, and it is not clear whether these are domestic prices or the goods prevailing in South Afric ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich concurrent finding is rendered against the Petitioner arose from a seizure of assorted diamond studded jewellery pursuant to an action under Section 111(l) of the Customs Act, 1962. 2. On 11 August 2006, the Petitioner arrived at Mumbai Airport from Johannesburg, South Africa. He had cleared himself through the green channel. The Petitioner was intercepted by Custom Officers on a tip-off. On interception, the Officers asked the Petitioner whether he was carrying any valuable or dutiable articles in his baggage or person, to which he replied in negative. The Customs Officers took a search of Petitioner s baggage in the presence of panch witnesses when it was found that the Petitioner was carrying various jewellery items. Invoices iss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion by the Authorities are not the invoices but certificates of insurance value. This is a factual assertion, and it was not taken before the Revisional Authority. All the Authorities proceeded on the basis that the invoices were found along with the Petitioner when the jewellery was confiscated. We do not find anywhere from the order of the Revisional Authority that the point sought to be urged before us that they are not invoices was argued. Therefore, we have proceeded as the Authorities held that the documents in question are invoices. 5. The second contention that was advanced by the learned counsel for the Petitioner that as was advanced before the Revisional Authority, is that the Department had doubt, they had called for a repor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Advocate for the Respondent submitted that transactional value is the standard by which valuation of the goods is to be done, and this is made clear by Section 14 of the Customs Act, 1962. Learned counsel submitted that invoices found with the Petitioner showed that the amounts in South African Rand and taking the conversion value, the valuation arrived by the Respondent Authority is correct. Learned counsel pointed out that the report of the Trade Panel is for the Department and the basic principle of the valuation as per transactional value, it if is found to be proper and reliable, must be given effect to. Learned counsel for the Respondents also submitted that the report of the Trade Panel was not found reliable. 7. Section 14 of 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation Rules to allow deduction of such charges. It was not the case of the appellant that the price included SA-VAT (and if so, how much). Therefore I find that the adjudicating authority made no mistake in adopting such transaction value. Even otherwise, if the report of the Trade Panel is to be made the foundation of, the same is not found reliable. The Authorities have commented on the same. The Commissioner has observed that from the Trade Panel's Report, it is unclear whether they had valued the goods for import or export purposes, and it is not clear whether these are domestic prices or the goods prevailing in South Africa. The Commissioner thus observed that the report lacks material and does not meet the requirements for gi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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