https://www.taxtmi.com/caselaws?id=314238 CESTAT Kolkata dismissed the revenue's appeal regarding reassessment of transaction value under Section 17(5) of Customs Act, 1962. The appellant imported PU leather cloth and customs authorities enhanced the declared value without providing a speaking order or cogent reasons for rejecting the manufacturer's invoice value. The tribunal held that any reassessment and value enhancement must be supported by clear justification in a speaking order. Since goods were imported directly from manufacturer and no substantiated basis existed for rejecting declared transaction value beyond hearsay evidence, the reassessment was deemed cryptic and unjustified. The Commissioner (Appeals) order was upheld. en-us Mon, 15 May 2023 00:00:00 +0530 Mon, 27 May 2024 16:44:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314238 CESTAT Kolkata dismissed the revenue's appeal regarding reassessment of transaction value under Section 17(5) of Customs Act, 1962. The appellant imported PU leather cloth and customs authorities enhanced the declared value without providing a speaking order or cogent reasons for rejecting the manufacturer's invoice value. The tribunal held that any reassessment and value enhancement must be supported by clear justification in a speaking order. Since goods were imported directly from manufacturer and no substantiated basis existed for rejecting declared transaction value beyond hearsay evidence, the reassessment was deemed cryptic and unjustified. The Commissioner (Appeals) order was upheld. Case-Laws Customs Mon, 15 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314238