The case pertains to the valuation of imported goods, specifically 1,2-Benzisothiazolin-3-ONE 85% (BIT...

The case pertains to the valuation of imported goods, specifically 1,2-Benzisothiazolin-3-ONE 85% (BIT PASTE 85%) originating from China. The appellant challenged the rejection of the declared transaction cost and the redetermination of assessable value u/s 17(5) of the Customs Act, 1962, as well as the enhancement of the assessable value based on contemporaneous import prices. The appellant submitted relevant bill of entries and literature indicating an explosion in Xiangshui Industrial Park, Yancheng, Jiangsu, which caused a temporary spike in prices from August 2019 to April 2020, before cooling down. The Appellate Tribunal found the appellant's explanation reasonable and set aside the impugned order, allowing the appeal. .....

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