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of <h1>Tribunal upholds valuation of imported PU Leather Cloth under Customs Valuation Rules despite discrepancies</h1> The tribunal upheld the valuation of imported PU Leather Cloth at US $ 1.02 per metre under Customs Valuation Rules, 1988, based on evidence presented, ... Valuation (Customs) - Redemption Fine - Penalty Issues involved: Valuation of imported goods under Customs Act, 1962; Imposition of redemption fine and penalty.Valuation of imported goods: The appellant imported PU Leather Cloth at a declared value of US $ 0.67 per metre CIF under DEPB Scheme. Discrepancies were found in the actual length of the imported rolls compared to the declared length. The goods were seized on suspicion of violation of Customs Act, 1962. The importer explained the lower price was due to a cancelled shipment to Syria and offered a lenient view. The authority found similar goods imported at US $ 1.02 per metre from Chinese and Taiwanese origins through Chennai Port. Market inquiries showed retail prices ranging from Rs. 140 to Rs. 180 per metre. Commissioner of Customs assessed the value at US $ 1.02 per metre u/r Rule 10A of Customs Valuation Rules, 1988, which the importer had agreed to based on contemporaneous prices. The tribunal upheld the valuation decision based on the evidence presented.Imposition of redemption fine and penalty: The appellant's explanation for the excess length of imported material was considered partially valid. The importer had agreed to enhance the valuation based on departmental materials. The tribunal found the imposition of redemption fine and penalty not fully justified, deleting that portion of the orders. The appeals were partly allowed on this issue.
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