Declared Import Value Cannot Be Rejected Arbitrarily: CESTAT Chennai

Sri Aisvaresvaraya Imports Vs Commissioner of Customs (CESTAT Chennai) Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has ruled in favor of Sri Aisvaresvaraya Imports, setting aside an order by the Commissioner of Customs that had rejected the declared transaction value of imported goods and enhanced it based on a Chartered Engineer’s report. The central issue before the CESTAT was whether the revenue authorities were justified in rejecting the importer’s declared value without a proper basis. The case originated when customs officials, during the ...