https://www.taxtmi.com/caselaws?id=337449 The Tribunal dismissed the Revenue's appeal against the Order-in-Appeal by the Commissioner of Customs (Appeals) regarding the enhancement of the value of imported polyester knitted fabrics from China. The Tribunal upheld the decision, emphasizing the necessity of a speaking order under Section 17(5) of the Customs Act, 1962, for any value enhancement. It rejected the reliance on NIDB for rejecting the transaction value and emphasized the importance of providing a valid basis for enhancing the declared value of imported goods, in line with established legal principles. en-us Fri, 09 Dec 2016 00:00:00 +0530 Tue, 10 Jan 2017 07:23:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337449 The Tribunal dismissed the Revenue's appeal against the Order-in-Appeal by the Commissioner of Customs (Appeals) regarding the enhancement of the value of imported polyester knitted fabrics from China. The Tribunal upheld the decision, emphasizing the necessity of a speaking order under Section 17(5) of the Customs Act, 1962, for any value enhancement. It rejected the reliance on NIDB for rejecting the transaction value and emphasized the importance of providing a valid basis for enhancing the declared value of imported goods, in line with established legal principles. Case-Laws Customs Fri, 09 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337449