TaxTMI 
TaxTMI 
2007 (2) TMI 110
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....i and sought their clearance. Invoice dated 14-6-02 to M/s. GBG Global Pvt. Ltd. Singapure was produced in support of price. Without assigning any reason as to why the goods could not be assessed at the transaction value, the case was referred for mark inquiry regarding price. The following report was filed by the Preventive Department. "Market Enquiry conducted on 2-7-2002. Identical items not a....
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....e Revenue authorities. The appellant filed an appeal before the Commissioner, inter alia protesting the enhancement of value. The Commissioner rejected the appeal with the following observations :- "5. I have carefully considered the submissions made by the Appellant in the Appeal Memorandum and at the time of Personal Hearing. I observe that the Appellant were fully aware of the market enquiry b....
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....gistered their protest against the enhancement of value before depositing the duty. They simply accepted the enhanced value, paid duty and cleared the goods. I am of the considered opinion that the Appellant found it to be in their interest 'to clear the goods after loading of value without any protest. The case law cited by them pertains to pre-amended version of the (Valuation) Rules, 1998 and c....
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....he authorities have not shown how from the retail price, which includes post importation costs, CIF value was worked out. 5. Learned SDR would point out that since retail price themselves have not been adopted for assessment and the loading of value is much less than the percentage at retail level the action of the authorities is required to be upheld. 6. The appeal merits acceptance. No reason ....