2018 (7) TMI 453

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.... a common order. We find that the Commissioner has enhanced the value of the goods imported by M/s Bhawani Enterprises along with imposition of penalties upon them as also on the other appellants. 2. After hearing both the side duly represented by Dr. Prabhat Kumar (Adv) & Shri. S.S. Dabas (Adv.), it is seen that M/s Bhawani Enterprises with Shri Naresh Chandra, being the Proprietor filed a Bill of Entry on 23/05/2008, for import of 'PVC Adhesive Sheeting with Paper liner' which is used for making stickers/labels, etc. for advertisement of products. Along with the Bill of entry, the appellant filed copy of the invoice issued by their foreign supplier as also the other requisite documents. 3. Investigations were initiated against the appel....

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....e penalties imposed upon various persons. 5. Arguing on valuation he submits that admittedly the importer had filed the invoice issued by the foreign supplier and the goods imported by the appellant were stock lot second quality goods, as is clear from the certificate given by the foreign supplier. Nevertheless the Revenue compared the value of the same with the value of the goods available in Indian markets, by making market inquiries. The Revenue has also referred to certain contemporaneous imports, which according to learned advocate were not at all contemporaneous in quality as well as in time. By drawing our attention to the chart appearing in the impugned order, he clarifies that as is clear on the comparison of both the charts the g....

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....d by the foreign supplier indicating the transaction value of the goods. It is well settled law that such transaction value has to be first rejected as incorrect value before the Revenue proceeds to enhance the value of the imported goods in the light of the valuation rules, which have to be followed sequentially. The said rejection of the transaction value has to be on the basis of sufficient, positive & tangible evidences. In the present case, we find no efforts on the part of the Revenue to first reject the transaction value and then proceed to enhance the value by referring to any contemporaneous imports. The legal position is settled and references can be made to some of the decisions of various Courts as listed below:- Commissioner ....