https://www.taxtmi.com/caselaws?id=247275 The Tribunal upheld the decision of the Commissioner (Appeals) in a case involving the misdeclaration of the value of imported cut and polished stones. The Tribunal found that the Department failed to provide sufficient evidence to justify rejecting the declared transaction value and enhancing the value of the goods. It noted that the valuation by gem experts lacked crucial details and there was no evidence of contemporaneous import of similar goods at the prices adopted by the Department. As a result, the Tribunal dismissed the Revenue's appeal, affirming the decision in favor of the respondent. en-us Wed, 22 Jan 2014 00:00:00 +0530 Thu, 25 Jun 2015 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247275 The Tribunal upheld the decision of the Commissioner (Appeals) in a case involving the misdeclaration of the value of imported cut and polished stones. The Tribunal found that the Department failed to provide sufficient evidence to justify rejecting the declared transaction value and enhancing the value of the goods. It noted that the valuation by gem experts lacked crucial details and there was no evidence of contemporaneous import of similar goods at the prices adopted by the Department. As a result, the Tribunal dismissed the Revenue's appeal, affirming the decision in favor of the respondent. Case-Laws Customs Wed, 22 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247275