https://www.taxtmi.com/caselaws?id=461632 CESTAT Mumbai allowed appeals against undervaluation allegations for rough diamond exports. The tribunal found Expert Panel opinions unreliable due to lack of disclosed sources, inconsistent valuations (40-45% vs 20% undervaluation), and non-supply of reports to appellants. Department failed to prove receipt of excess proceeds beyond invoiced amounts. Bank records confirmed exact invoice realization through approved channels. CESTAT held valuation provisions apply only for duty collection, not non-dutiable goods, and expert reports must be transparent with established norms. Original adjudication order set aside. en-us Tue, 16 Jul 2024 00:00:00 +0530 Thu, 17 Apr 2025 20:37:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461632 CESTAT Mumbai allowed appeals against undervaluation allegations for rough diamond exports. The tribunal found Expert Panel opinions unreliable due to lack of disclosed sources, inconsistent valuations (40-45% vs 20% undervaluation), and non-supply of reports to appellants. Department failed to prove receipt of excess proceeds beyond invoiced amounts. Bank records confirmed exact invoice realization through approved channels. CESTAT held valuation provisions apply only for duty collection, not non-dutiable goods, and expert reports must be transparent with established norms. Original adjudication order set aside. Case-Laws Customs Tue, 16 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461632