Assessable Value cannot be enhanced on the basis of Price quoted in Proforma Invoice

Trading Syndicate Proprietor – Shri Mohinder Goel Vs Commissioner of Customs(Port) (CESTAT Kolkata) present proceeding was initiated against the appellant on the allegation that the goods imported by him had been undervalued. It is on record that the bills of entry were assessed by the Proper Officer and the assessable value was determined by him and it was not challenged either by the appellant or by the department. In the course of enquiry, a proforma invoice was recovered showing a different price from that as shown in the invoice submitted at the time of import. However, it is observed ...