Rejection of transaction value in absence of contemporaneous import is unsustainable

Commissioner of Customs (Import) Vs Maharashtra Eastern Grid Power Transmission Company Limited (MEGPTCL) (CESTAT Mumbai) Held that department failed to brought on record independent evidence showing that the price of imported goods were over-valued. Accordingly, in the absence of contemporaneous imports, the transaction value cannot be discarded. Facts- The main issue in this appeal relates to the allegation of overvaluation of the goods that were imported for the purpose of setting up Transmission Lines and Substations in the State of Maharashtra. The State of Maharashtra was facing acute po...