2022 (8) TMI 114

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....y. 2. The Brief facts of the case are that Appellants have imported Aluminium scrap under various Bills of Entry and the price was declared in the Bills of Entry is as per the invoice of the foreign supplier. The Assessing officer did not accept the transaction value declared in the Bills of Entry and reassessed the Bills of Entry by enhancing the value on the basis of Circular issued by Director General of Valuation. Appellant challenged the said reassessment and filed the Appeals before the Commissioner (Appeals). The Commissioner (Appeals) vide impugned orders rejected the Appeals on the grounds that the Appellant have given a consent letter accepting the enhanced value of the Assessing authority, therefore, the Appellant is not a agg....

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....red value as per Rule 12 of Customs Valuation Rules, 2007 read with Rule 3 and Rule 10 of the said Rules. If the Assessing officer has reason to doubt the truth or accuracy of the value declared in relation to imported goods for which Bills of Entry were filed, he has to ask the importer further information including documents or other evidence in respect of such goods. If the doubt persists then he cannot determine the value as per provisions of sub-Rule 1 of Rule 3. There is no inquiry made by the Assessing officer as well as not demanded any documents or documentary evidence in respect of imported goods for which the declared value was rejected. 6. He placed reliance on the following decisions. (a) Century Metal Recycling Pvt....

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....itten acceptance of the enhanced value and thereby has forgone his right to speaking order under Section 17(5) of the Customs Act. We noticed that in view of such admission, no speaking order was issued as per requirements for Section 17(5) of the Customs Act, 1962. 9. Section 14 of the Customs Act, 1962 read with Customs Valuation Rules makes it abundantly clear that transaction value in the ordinary course of commerce is to be taken as the assessable value. The Customs Valuation Rules outlines the step-by-step methodology to be adopted for re-determination of the assessable value in certain cases. The primary requirement for re-determination of the value is that the transaction value should be rejected for cogent reasons prescribed in ....