2007 (6) TMI 436

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.... Reddy, JDR, for the Respondent. [Order per : S.L. Peeran, Member (J)]. - This appeal arises from Order-in-Appeal No. 89/2005 dated 19-10-2005 by which the Commissioner (A) has confirmed Order-in-Original No. 37/2005 dated 30-9-2005 confirming demands for the allegation of undervaluation and mis-declaration of goods. 2. The brief facts are that the appellants filed Bill of Entry No. ....

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....the goods and has imposed penalty which is under challenge. 3. The learned Counsel submits that there is no evidence of contemporaneous import for revising the value. The Chartered Engineer cannot take the value of local market for the purpose of revising the value. Therefore, the revision of value is not as per law and the same is required to be set aside. He relied on the Apex Court ruli....

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....t is seen that there was an error in the invoice. The same was noticed and the fresh corrected invoice was filed. Revenue proceeded to revise the value on the basis of the value submitted by the Chartered Engineer. The Chartered Engineer has valued the goods in terms of the prevailing local market. There is no evidence of contemporaneous import of the said goods from the same country and therefore....