https://www.taxtmi.com/highlights?id=74896 Valuation of imported goods - Sludge/Sediments found in the vessel imported for breaking - The Tribunal held that, the department could not establish conclusively that the goods claimed by the appellant as sludge/sediments is lubricating oil. Therefore, applying the price of the lubricating oil i.e. USD 420 per MT, is without any basis. Hence, the same cannot be sustained. - adjudicating authority directed to reconsider the entire case and bring any evidence, if available, to establish that the goods found in the vessel is Lubricating Oil and not sludge/sediment and thereafter matter may be decided a fresh. en-us Wed, 14 Feb 2024 07:14:21 +0530 Wed, 14 Feb 2024 07:14:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74896 Valuation of imported goods - Sludge/Sediments found in the vessel imported for breaking - The Tribunal held that, the department could not establish conclusively that the goods claimed by the appellant as sludge/sediments is lubricating oil. Therefore, applying the price of the lubricating oil i.e. USD 420 per MT, is without any basis. Hence, the same cannot be sustained. - adjudicating authority directed to reconsider the entire case and bring any evidence, if available, to establish that the goods found in the vessel is Lubricating Oil and not sludge/sediment and thereafter matter may be decided a fresh. Highlights Customs Wed, 14 Feb 2024 07:14:21 +0530 https://www.taxtmi.com/highlights?id=74896