Overvaluation Allegation: Demand rejected due to Unexamined Bank Realisation Certificate

Prakash Ghosh Vs Commissioner of Customs (CESTAT Kolkata) CESTAT Kolkata held that duty demand alleging overvaluation cannot be sustained as authority didn’t considered details of Bank Realisation Certificate (BRC) which establishes full realization of value of export invoices from overseas importer. Facts- The Appellant has exported 12 consignments of synthetic fabrics during the period December 2009 and February 2010. For these consignments, the Appellants have utilized the benefit of DEPB Scheme granted under FTP. The exports of the Appellant to Bangladesh were required to be certified by...