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CESTAT upheld the Commissioner's rejection of the declared transaction value under Valuation Rule 12 as based on reasonable doubt, ordered sequential re-determination under Valuation Rules 3-9 with reliance on the recovered invoice data, but set aside the Commissioner's addition under Valuation Rule 10(2) (freight/insurance) because the records did not prove FOB pricing and the imported values were to be treated as CIF. Section 138C certification was not requisite for reliance on the printed Excel material in these circumstances. The confirmed duties are to be recomputed accordingly; penalty under s.114A must be recalculated, while the s.114AA penalty (Rs.50,00,000) was sustained as not excessive. Appeal allowed in part.
CESTAT upheld the Commissioner's rejection of the declared transaction value under Valuation Rule 12 as based on reasonable doubt, ordered sequential re-determination under Valuation Rules 3-9 with reliance on the recovered invoice data, but set aside the Commissioner's addition under Valuation Rule 10(2) (freight/insurance) because the records did not prove FOB pricing and the imported values were to be treated as CIF. Section 138C certification was not requisite for reliance on the printed Excel material in these circumstances. The confirmed duties are to be recomputed accordingly; penalty under s.114A must be recalculated, while the s.114AA penalty (Rs.50,00,000) was sustained as not excessive. Appeal allowed in part.
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