2015 (12) TMI 653

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....the total contract value was also reflected in the contracts. 3. However, on presenting bill of entry for clearance of the first consignment of the goods in question, Revenue entertained a view that the goods were under-valued. Accordingly proceedings were initiated against them for enhancement of the same. During adjudication, the appellant contended that the value as declared in the invoices issued by the foreign supplier is the genuine transaction value in terms of the contract entered into between the appellant and the foreign supplier. They also produced certain evidences of contemporaneous imports where the value accepted by the Customs Authorities was less than the value as declared by the assessee. 4. However, the original adjudic....

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....aneous imports of similar goods, he enhanced the price. To the same effect is the order of Commissioner (Appeals). 7. There is no reference by the Revenue to any contemporaneous import declaring the price of identical goods at a higher value. The only reference is to those imports where the value was enhanced by the Customs Authorities based upon the letter of Commissioner of Customs (Imports) Nhava Sheva, Bombay. Merely because the value was enhanced by the Customs, the same would not become contemporaneous imports. In the present case also, the Customs have enhanced the value and the present enhancement cannot be considered to be contemporaneous for the other subsequent imports. 8. The value declared by the appellant is on the basis of ....