TaxTMI 
TaxTMI 
2016 (11) TMI 904
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....e and filed by the appellant against the same impugned order, they are being disposed of by a common order. 3. The issue in brief relates to the imports of Cold Rolled Non Grain Oriented Coils (hereinafter referred to as CRNGO). Appellant had imported four consignments of CRNGO during the period January, 2013 to June, 2013 and declared the value as USD $ 755, 760 & 791.20 PMT. The adjudicating authority enhanced the value in Order-in-Original. Aggrieved by an order, an appeal was preferred before the first appellate authority. The first appellate authority did not agree with the contentions of appellant and upheld the order wherein the value has been enhanced in each case to US $ 850 PMT. 4.&n....
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....uring the material period; in the absence of any such findings just placing reliance on unrelated imports to enhance value on CRNGO coils is incorrect and the order needs to be set aside. 5. Learned Departmental Representative reiterates the findings of the lower authorities. It is his submission that the Hon'ble Apex Court in the case of Punjab Processors Pvt. Ltd. Vs. Collector of Customs - 2003 (157) ELT 625 (S.C.) has held that while the assessing the value of the imported goods, Apprising/Assessing Officer is not bound by the figure mentioned in the invoice and the Customs authorities in this case has relied upon the contemporaneous evidence to show that the declared value is not the correct value. 6. ....
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....t or unacceptable, the Revenue has to bring on record some cogent material, which would indicate that the goods imported are comparable with the contemporaneous imports. This is ratio of Hon'ble Apex Court in the case of Aggarwal Industries Ltd. (supra). Respectfully we reproduce the ratio which is in paragraph No. 16, 17 & 18. "16. It needs little emphasis that before rejecting the transaction value declared by the importer as incorrect or unacceptable, the revenue has to bring on record cogent material to show that contemporaneous imports, which obviously would include the date of contract, the time and place of importation, etc., were at a higher price. In such a situation, Rule 10A of CVR, 1988 contemplates that....
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....der the said Act, customs duty is chargeable on goods. According to Section 14(1), the assessment of duty is to be made on the value of the goods. The value may be fixed by the Central Government under Section 14(2). Where the value is not so fixed it has to be decided under Section 14(1). The value, according to Section 14(1), shall be deemed to be the price at which such or like goods are ordinarily sold or offered for sale, for delivery at the time and place and importation in the course of international trade. The word "ordinarily" implies the exclusion of special circumstances. This position is clarified by the last sentence in Section 14(1) which describes an "ordinary" sale as one where the seller or the buyer have no interest in the....
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....oversy arose on account of difference in price of the same commodity, contracted to be supplied under different contracts entered into at different points in time. As aforesaid, in the instant case, admittedly the contract for supply of crude sunflower seed oil @ US $ 435 CIF/PMT was entered into on 26th June 2001. It could not be performed on time because of which extension of time for shipment was agreed to between the contracting parties. It is true that the commodity involved had volatile fluctuations in its price in the international market but having delayed the shipment, the supplier did not increase the price of the commodity even after the increase in its price in the international market. This fact is also proved by the actual amo....