Iron Ore Export Refund Claim Upheld: Valuation Based on Load Port Test Report Under Circular No. 12/2014-Customs

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....CESTAT adjudicated a dispute regarding refund claim for exported iron ore fines, focusing on valuation methodology. The tribunal determined that transaction value must be derived from load port test report as per contractual terms and Circular No. 12/2014-Customs. The appellate authority held that refund cannot be rejected without challenging original assessment orders. Consequently, the tribunal set aside the impugned order, allowing the appellant's appeal and mandating consequential relief consistent with legal provisions. The decision emphasized adherence to contractual specifications and procedural compliance in customs valuation, reinforcing the principle that assessment orders remain valid unless specifically challenged through appropriate legal channels.....