https://www.taxtmi.com/caselaws?id=759915 CESTAT Kolkata set aside customs valuation order rejecting appellant's declared transaction value for imported goods. The adjudicating authority failed to provide cogent comparable material or contemporaneous imports to justify rejection. Authority ignored appellant's evidence of lower-value contemporaneous imports and didn't furnish details of higher-value bills of entry used for comparison. Valuation rules were not systematically followed, with improper application of Rule 9. Penalty imposed on company partner under Section 114AA was also set aside as required ingredients for penalty imposition were absent. Appeal allowed. en-us Wed, 09 Oct 2024 00:00:00 +0530 Fri, 11 Oct 2024 08:58:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759915 CESTAT Kolkata set aside customs valuation order rejecting appellant's declared transaction value for imported goods. The adjudicating authority failed to provide cogent comparable material or contemporaneous imports to justify rejection. Authority ignored appellant's evidence of lower-value contemporaneous imports and didn't furnish details of higher-value bills of entry used for comparison. Valuation rules were not systematically followed, with improper application of Rule 9. Penalty imposed on company partner under Section 114AA was also set aside as required ingredients for penalty imposition were absent. Appeal allowed. Case-Laws Customs Wed, 09 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759915