https://www.taxtmi.com/caselaws?id=758011 The Tribunal overturned the impugned order, allowing the appeal by the appellant, M/s Lanxess (India) Private Limited. The Tribunal found the appellant's explanation regarding the temporary price increase and subsequent decrease in the assessable value reasonable. The appellant had demonstrated that the price variations were due to a temporary rise in the cost of a key raw material, O-chloro benzonitrile, which was corroborated by import data and supplier correspondence. Consequently, the Tribunal accepted the declared transaction cost of USD 8.50 PKG, rejecting the previous enhancement based on contemporaneous import prices. en-us Wed, 04 Sep 2024 00:00:00 +0530 Wed, 04 Sep 2024 17:44:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758011 The Tribunal overturned the impugned order, allowing the appeal by the appellant, M/s Lanxess (India) Private Limited. The Tribunal found the appellant's explanation regarding the temporary price increase and subsequent decrease in the assessable value reasonable. The appellant had demonstrated that the price variations were due to a temporary rise in the cost of a key raw material, O-chloro benzonitrile, which was corroborated by import data and supplier correspondence. Consequently, the Tribunal accepted the declared transaction cost of USD 8.50 PKG, rejecting the previous enhancement based on contemporaneous import prices. Case-Laws Customs Wed, 04 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758011