TaxTMI 
TaxTMI 
2021 (11) TMI 623
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....on conducted by Mumbai DRI against various importers of such items, a Show Cause Notice dated 05.07.2010 was issued alleging undervaluation of the imported goods. The Adjudicating authority rejected the declared assessable value and accepted the re-determined assessable value and held the goods liable for confiscation under Section 111(m) of the Customs Act, 1962. The differential duty of Rs. 13,19,538/- was confirmed in respect of two consignments imported under Bills of Entry No.509039 dated 03.12.2009 and 511166 dated 14.12.2009 under Section 28(8) along with applicable interest. Penalty of Rs. 13,19,538/- was imposed under Section 114A on M/s.Trading Syndicate and a penalty of Rs. 1,80,00,000/- was imposed separately on the proprietor. ....
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....g not filed appeal against any assessment order, the assessment is final and any demand against the finalized assessed Bills of Entry is not sustainable in law. Moreover, the value is sought to be enhanced on the basis of proforma invoice which is issued by the exporter to some other importer in India and in the name of the appellant. Any value in proforma invoice cannot be taken as the transaction value as price quoted in proforma invoice is never the final transaction value. In the present case, the Revenue has not adduced any evidence that the appellant had made any extra payment over and above the invoice value. 3. In the matter of re-determination of value, the proper officer must proceed sequentially from Rule 5 to Rule 8 of Customs ....
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....ficer of Customs by value edition over the declared value in consonance with a departmental instruction. The goods so imported were cleared for home consumption. 7. On 07.01.2010, Officer of DRI, Mumbai searched the office and residential premises of the appellant and stock of goods lying in the office-cum-godown premises were seized/detained. During investigation, proforma invoice No. TSI-090527 dated 27.05.2009 was recovered which contained value of similar item more than that declared in the invoices submitted by the appellant at the time of importation. Based on the value shown in the said proforma invoice, differential Customs Duty of Rs. 13,19,538/- was demanded along with interest at the appropriate rate and imposition of penalty un....