https://www.taxtmi.com/caselaws?id=448688 CESTAT Chennai allowed the appeal challenging valuation of imported PTFE Thread Seal Tape. The Revenue alleged declared value was not on par with contemporaneous imports at other ports. The Tribunal held that the adjudicating authority failed to provide sufficient details about commercial level and quantity of alleged contemporaneous imports to establish they were similar goods. The market survey conducted was not placed on record. The Tribunal emphasized that re-valuation requires consideration of all commercial factors before enhancing declared transaction values under Rules 4 or 5 of Customs Valuation Rules, 2007. en-us Tue, 23 Jan 2024 00:00:00 +0530 Sat, 27 Jan 2024 08:33:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448688 CESTAT Chennai allowed the appeal challenging valuation of imported PTFE Thread Seal Tape. The Revenue alleged declared value was not on par with contemporaneous imports at other ports. The Tribunal held that the adjudicating authority failed to provide sufficient details about commercial level and quantity of alleged contemporaneous imports to establish they were similar goods. The market survey conducted was not placed on record. The Tribunal emphasized that re-valuation requires consideration of all commercial factors before enhancing declared transaction values under Rules 4 or 5 of Customs Valuation Rules, 2007. Case-Laws Customs Tue, 23 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448688