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of <h1>Tribunal Upholds Commissioner's Decision on Import Value, Rejects Revenue Appeal</h1> <h3>COMMISSIONER OF CUSTOMS (I), MUMBAI Versus INOX INDIA LIMITED</h3> COMMISSIONER OF CUSTOMS (I), MUMBAI Versus INOX INDIA LIMITED - 2007 (209) E.L.T. 320 (Tri. - Mumbai) Issues: Revenue's appeal against Commissioner of Customs (Appeals) order on transaction value for import in June 1997.In this judgment by the Appellate Tribunal CESTAT, Mumbai, the Revenue appealed against the order of the Commissioner of Customs (Appeals) concerning the transaction value for import in June 1997. The original authority had rejected the transaction value and compared it with the values of similar goods imported in October 1996. The Commissioner (Appeals) rejected the transaction value enhancement based on a chart showing a downward trend in steel product prices. The Revenue did not question the chart or the data within it. The appellants presented evidence of a gradual downtrend in prices, which the Commissioner (Appeals) acknowledged. The Tribunal held that the historical data from October 1996 was relevant for imports in June 1997 due to the downward price trend. Consequently, the Tribunal rejected the Revenue's appeal, finding no merit in the grounds raised. The judgment was pronounced in court by the Member (T) S.S. Sekhon.This case primarily revolved around the assessment of transaction value for imports in June 1997. The original authority had rejected the value and compared it with similar goods imported in October 1996. The Commissioner (Appeals) based their decision on a chart demonstrating a downward price trend in steel products. The Tribunal noted that the Revenue did not challenge the chart or the data presented. The appellants provided evidence of a gradual decrease in prices, which was accepted by the Commissioner (Appeals). The Tribunal agreed that the historical data from October 1996 was relevant for assessing the contemporaneous price for imports in June 1997, given the consistent price decline. As a result, the Tribunal dismissed the Revenue's appeal, finding no valid grounds for overturning the Commissioner (Appeals) decision.The key issue in this case was the rejection of the transaction value for imports in June 1997 and the comparison with prices from October 1996. The Commissioner (Appeals) decision was based on a chart illustrating a decline in steel product prices. The Tribunal highlighted that the Revenue did not dispute the chart or its data. The appellants successfully demonstrated a gradual price decrease, which was acknowledged by the Commissioner (Appeals). The Tribunal concurred that the historical data from October 1996 provided a valid basis for determining the contemporaneous price for imports in June 1997 due to the ongoing price decline. Consequently, the Tribunal dismissed the Revenue's appeal as it lacked merit based on the evidence and arguments presented.
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