Case Law Details
Atlantis Trading Company Vs Commissioner of Customs (CESTAT Chennai)
Introduction: In a recent judgment, the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) Chennai addressed the appeal filed by Atlantis Trading Company against the re-valuation of imported goods by the Assistant Commissioner. The dispute centered around the rejection of the declared value by the Revenue based solely on the National Import Database (NIDB) data.
Background: Atlantis Trading Company imported induction cookers from China and declared unit values for each item. The Assistant Commissioner, suspecting undervaluation, referred to NIDB data showing similar goods being cleared at a higher rate. Consequently, the declared value was rejected, and a new value was determined by the original authority.
Key Issues: The primary issue before CESTAT Chennai was whether the rejection of the declared value solely based on NIDB data was justified.
Arguments:
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