2019 (6) TMI 1079

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....sented for first check basis along with documents like commercial invoice, packing list, Bill of lading and recoverable aluminium content stated to be around 21-22%. 2. The said goods were examined by the Revenue and samples were drawn for further testing by CRCL. As per the report of CRCL dated 04 April, 2016 and 25 April, 2016 the samples were found to be in the form of grayish pores metallic lump of irregular shapes and size having oxidized surface. It is composed of aluminium and it is oxidized with small amount of iron, led, silicon and water soluble salt. The quantity of aluminium was estimated to 77.8% and 71.1% respectively in both the samples. In respect of Bill of Entry dated 10 March, 2016 the aluminium contents were expected ....

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....der rejected the transaction value declared by the appellant and enhanced the same in both the entries thus confirming the demand of differential duties in respect of both the bills of entries to the extent of Rs. 3,22,127/- and Rs. 11,72,624/-. He also imposed penalty of Rs. 9 lakh on the appellant in terms of the provisions of Section 112(a) of the Customs Act and penalty of Rs. 1 lakh under Section 114(AA) of the Act. Further the goods imported by the appellant were held liable to confiscation. Since the same were provisionally released, redemption fine of Rs. 17 lakh was imposed on the appellant. The said order of the Commissioner is impugned before us. 5. After hearing both the sides duly represented by learned advocate Shri Priyada....

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....y from the importer to the supplier of the goods are required. The latest decision of the Hon'ble Supreme Court in the case of C.C.E. & S.T., Noida V/s Sanjivani Non-Ferrous Trading Pvt. Ltd. reported at 2019 (365) E.L.T. 3 (S.C.) has observed that transaction value has to be accepted as correct assessable value and the same cannot be enhanced on the basis of NIDB data. 6. We also further note that the enhancement of the value stand done by adopting the value of the prime metal i.e. Aluminium as reflected in London Metal Exchange (LME). The Tribunal in the case of Agarvanshi Aluminium Ltd. V/s Commissioner of Customs (I) reported as 2014 (299) ELT 83 has held that valuation cannot be enhanced based upon LME price. In the present case we ....