TaxTMI 
TaxTMI 
2018 (2) TMI 157
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.... Appellant Shri S. Murugappan, Advocate for the Respondent ORDER Per: Bench The above appeal is filed by the department against the order passed by the Commissioner who accepted the declared retail price of the safari brand wafer bars @2.60 per piece for the goods covered under Bill of Entry dated 13.12.2005 and directed to finalize the assessment accordingly and dropped penal proceedings prop....
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....nducted which showed that safari brand wafers bar was being sold at Rs. 8/- per piece to Rs. 9/- per piece in the local market. Thus, the goods were seized and a mahazar was drawn up. Later, on their request, the goods were permitted to be provisionally released on a cash deposit of Rs. 5,50,310/- and on execution of bank guarantee of equal amount. Though the premises of the importer were searched....
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....t if the manufacturers' invoice is available and genuine, it is the best evidence of the price of imported goods. In the present case, the department has relied upon the cash bills obtained from the local market and the same cannot be taken as the basis for enhancement of the imported goods. Further, the goods pertaining to these cash bills are safari brand chocolates and not wafers. For these rea....