Steam Coal Import Valuation: Customs Authority's Attempted Value Substitution Rejected Under Rule 3(1) and Section 14

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....CESTAT adjudicated a customs valuation dispute involving imported steam coal, comprehensively rejecting the proposed re-determination of transaction value. The Tribunal found the customs authority's attempt to substitute the declared value with an alternative invoice value procedurally improper and lacking statutory foundation. Critically, the proposed valuation modification did not conform to Customs Valuation Rules, particularly Rule 3(1) and Section 14 of the Customs Act, 1962. The Tribunal determined that neither confiscation nor penalties were legally sustainable, as no substantive duty evasion or misdeclaration was established. Consequently, the appeal was dismissed, affirming the original transaction value and invalidating the customs authority's proposed interventions.....