https://www.taxtmi.com/caselaws?id=753102 An export consignment declared and treated as iron ore fines could not be reclassified as iron ore lumps merely because some particles exceeded 10 mm, where the shipment was tested as a whole and the relevant standards allowed incidental larger particles within fines; the duty demand based on such artificial segregation was unsustainable. The declared transaction value supported by invoices and a bank realisation certificate also could not be rejected in the absence of a legally sustainable basis, particularly where value variation was explained by agreed commercial factors such as moisture and Fe content at the buyer's port; the valuation adjustment was therefore invalid. en-us Thu, 29 Feb 2024 00:00:00 +0530 Sat, 25 May 2024 08:08:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753102 An export consignment declared and treated as iron ore fines could not be reclassified as iron ore lumps merely because some particles exceeded 10 mm, where the shipment was tested as a whole and the relevant standards allowed incidental larger particles within fines; the duty demand based on such artificial segregation was unsustainable. The declared transaction value supported by invoices and a bank realisation certificate also could not be rejected in the absence of a legally sustainable basis, particularly where value variation was explained by agreed commercial factors such as moisture and Fe content at the buyer's port; the valuation adjustment was therefore invalid. Case-Laws Customs Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753102