https://www.taxtmi.com/caselaws?id=757827 The CESTAT NEW DELHI set aside customs authorities' rejection of declared export values under EPCG scheme. Customs had rejected transaction values and re-determined them based solely on a Chartered Engineer's certificate, leading to confiscation under section 113(h)(i) of Customs Act and penalties under sections 114 and 114AA. The tribunal held there was no reasonable doubt regarding transaction value accuracy, noting past remittances were received as declared and no evidence of flow-back to UAE buyer existed. The rejection under Rule 8 was improper as cost of manufacture being lower than export price doesn't justify value rejection without comparing similar exports to other buyers. en-us Mon, 02 Sep 2024 00:00:00 +0530 Mon, 02 Sep 2024 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757827 The CESTAT NEW DELHI set aside customs authorities' rejection of declared export values under EPCG scheme. Customs had rejected transaction values and re-determined them based solely on a Chartered Engineer's certificate, leading to confiscation under section 113(h)(i) of Customs Act and penalties under sections 114 and 114AA. The tribunal held there was no reasonable doubt regarding transaction value accuracy, noting past remittances were received as declared and no evidence of flow-back to UAE buyer existed. The rejection under Rule 8 was improper as cost of manufacture being lower than export price doesn't justify value rejection without comparing similar exports to other buyers. Case-Laws Customs Mon, 02 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757827