9911796707
TMI Blog2024 (7) TMI 696X X X X Extracts X X X X X X X X Extracts X X X X ..... the importer, the Revenue is required to satisfy the requirements prescribed under Section 14 of the Customs Act read with Customs Valuation Rules before any enhancement of valuation.' It is found that except the acceptance letter by the appellant no contemporaneous import price has been relied upon on the basis of documentary evidence. Therefore, there is no reason to enhance the value. Accordingly, both the orders of the lower Authorities are incorrect and illegal in the light of the settled legal position. As regards the reliance placed by the revenue in the case of Sukhdev Exports Overseas Vs. Commissioner of Custom (Preventive), New Delhi [ 2023 (2) TMI 1038 - CESTAT NEW DELHI] , it is found that in that judgment the fact is that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1.2. The appellant again filed appeal before Ld. Commissioner (Appeals), who, vide impugned order has rejected the appeal by relying on appellant's letter dated 26.07.2018 accepting value enhancement. Therefore, the present appeal filed by the appellant before this Tribunal. 2. Shri Vikas Mehta learned Consultant appearing on behalf of the appellant at the outset submits that in the present case the value of imported goods was enhanced only on the basis of the appellant s acceptance letter whereby the price was enhanced 5 times of the declared value i.e. from 0.25 US $ to 1.25 US $ . 2.1. He submits that the appellant was compelled to accept the price. He placed Reliance on the decision of the CMR Nikkei India Pvt. Ltd 2022 (8)TMI 114 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... acceptance before the Assessing Authority, the Appellant challenged the valuation/assessment of goods by filing appeals. The learned Commissioner (Appeals) upheld the impugned reassessment. The Commissioner (Appeals) has observed in the impugned orders that the Appellant had given their written acceptance of the enhanced value and thereby has forgone his right to speaking order under Section 17(5) of the Customs Act. We noticed that in view of such admission, no speaking order was issued as per requirements for Section 17(5) of the Customs Act. 1962 9. Section 14 of the Customs Act, 1962 read with Customs Valuation Rules makes it abundantly clear that transaction value in the ordinary course of commerce is to be taken as the assessable valu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act dealing with Valuation of Goods nor the provisions of Customs valuation Rules, 2011 have been followed while assessing the impugned bills of entry. The assessment orders do not assign any reason for discarding the transaction value nor do they mention under which rule of Customs Valuation Rules, the value has been determined. 12. Considering the above facts, we are of the view that, in spite of the admission on behalf of the importer, the Revenue is required to satisfy the requirements prescribed under Section 14 of the Customs Act read with Customs Valuation Rules before any enhancement of valuation. 13. In view of the above discussion, the matter is required to be remanded to the Original Assessing Authority for sharing the basis for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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