https://www.taxtmi.com/caselaws?id=179802 The declared FOB value could not be rejected merely on departmental enquiries, because the Revenue failed to prove that the comparison goods were identical in quality to the exported goods. Statements from the supplier and local artisans, market enquiries and references to other exports were insufficient to displace the export transaction value, especially where the goods were chrome plated combination pliers with PVC sleeves and export proceeds were fully realised. The exporter was not required to fix FOB value at prevailing market price, and DEPB entitlement had to be assessed with reference to the export transaction value under Section 14 of the Customs Act, 1962. Accordingly, rejection of value, restriction of DEPB benefit, confiscation and penalties were unsustainable. en-us Thu, 09 Apr 2015 00:00:00 +0530 Thu, 10 Mar 2016 10:19:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179802 The declared FOB value could not be rejected merely on departmental enquiries, because the Revenue failed to prove that the comparison goods were identical in quality to the exported goods. Statements from the supplier and local artisans, market enquiries and references to other exports were insufficient to displace the export transaction value, especially where the goods were chrome plated combination pliers with PVC sleeves and export proceeds were fully realised. The exporter was not required to fix FOB value at prevailing market price, and DEPB entitlement had to be assessed with reference to the export transaction value under Section 14 of the Customs Act, 1962. Accordingly, rejection of value, restriction of DEPB benefit, confiscation and penalties were unsustainable. Case-Laws Customs Thu, 09 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179802