https://www.taxtmi.com/caselaws?id=759804 CESTAT New Delhi held that rejection of transaction value and re-determination of import value based on earlier imports by same importer was unsustainable. The order failed to provide proper justification for rejecting declared values under Rule 12 of Valuation Rules, lacked details of comparative Bills of Entry, and contained no feature comparison between imported goods and those used for value re-determination. The tribunal set aside value re-determination, differential duty demand, interest, and mandatory penalty under section 114A, while reducing penalty under section 114AA to four lakhs. Matter remanded for calculation purposes. Appeal partially allowed. en-us Thu, 03 Oct 2024 00:00:00 +0530 Tue, 08 Oct 2024 10:44:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759804 CESTAT New Delhi held that rejection of transaction value and re-determination of import value based on earlier imports by same importer was unsustainable. The order failed to provide proper justification for rejecting declared values under Rule 12 of Valuation Rules, lacked details of comparative Bills of Entry, and contained no feature comparison between imported goods and those used for value re-determination. The tribunal set aside value re-determination, differential duty demand, interest, and mandatory penalty under section 114A, while reducing penalty under section 114AA to four lakhs. Matter remanded for calculation purposes. Appeal partially allowed. Case-Laws Customs Thu, 03 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759804