https://www.taxtmi.com/caselaws?id=53074 The Tribunal dismissed the appeals, affirming the rejection of refund claims. It held that the assessments of the Bills of Entry were final and binding, as they were not contested by the appellants. The Tribunal determined that post-importation price reductions could not be considered for reassessment under the Customs Act, as the invoice value at the time of assessment was the legitimate transaction value. It clarified that Section 149 does not permit reassessment, and Section 27 refund claims cannot challenge unchallenged assessments. The appellants' arguments regarding the applicability of Sections 149 and 27 were rejected, maintaining the finality of the original assessments. en-us Fri, 13 Aug 2004 00:00:00 +0530 Mon, 01 Jul 2024 15:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53074 The Tribunal dismissed the appeals, affirming the rejection of refund claims. It held that the assessments of the Bills of Entry were final and binding, as they were not contested by the appellants. The Tribunal determined that post-importation price reductions could not be considered for reassessment under the Customs Act, as the invoice value at the time of assessment was the legitimate transaction value. It clarified that Section 149 does not permit reassessment, and Section 27 refund claims cannot challenge unchallenged assessments. The appellants' arguments regarding the applicability of Sections 149 and 27 were rejected, maintaining the finality of the original assessments. Case-Laws Central Excise Fri, 13 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53074