Anti-dumping valuation and co-product classification require independent factual examination, not reliance on prior foreign exporter findings.

Anti-dumping assessment under Section 9A and the Anti-Dumping Rules must rest on a fair and rational determination of normal value, export price, dumping margin and injury. Whether chlorine was a by-product or co-product turned on the factual test of equal economic importance under paragraph 12 of Schedule III to the Cost Accounting Records (Caustic Soda) Rules, 1967, including the relevant accounting principles and commercial use. The tribunal erred by relying mainly on an earlier foreign exporter determination and chlorine price movement without independently examining those factors. Its approach was unsustainable, and the matter was remitted for fresh consideration in accordance with law.

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Issues: Whether the tribunal was in setting aside the non-injurious price and injury margin on the footing that chlorine had to be treated as a co-product and that the Designated Authority had to follow the same costing method as in the comparable foreign exporter case.

Analysis: The statutory scheme under Section 9A of the Customs Tariff Act, 1975 and the Anti-Dumping Rules requires a determination of normal value, export price, margin of dumping and injury on a fair and rational basis. The question whether chlorine was a by-product or a co-product depended on the factual inquiry required by paragraph 12 of Schedule III to the Cost Accounting Records (Caustic Soda) Rules, 1967, particularly the concept of equal economic importance. The tribunal had proceeded largely on the basis of the earlier foreign exporter determination and on the rise in chlorine prices, without independently examining whether the Designated Authority had considered the relevant accounting principles, commercial use, and the statutory test of equal economic importance on the facts of the case.

Conclusion: The tribunal's approach was unsustainable and its order was set aside. The matter was remitted for fresh consideration in accordance with law.

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