CESTAT Delhi quashes demand as Revenue fails to prove undervaluation of goods to reject invoice transaction value

Commissioner Vs V. K. Metcast Pvt. Ltd. (CESTAT Delhi) FACTS – The respondent/importer had filed three bills of entry dated 27.01.2021 for clearance of imported goods ‘Zinc Scrap, Saves/Scope’ which were imported from M/s Olympic Metal, Miami, USA. As the Department noticed that the declared value of the goods was lower than the contemporaneous import of similar goods and that the sale involved an abnormal discount and abnormal rejection from ordinary competitive prices, a query was raised from the importer to provide material/evidence to justify the declared value in terms o...