Customs Duty Demand for Undervalued Plastic Granules Quashed

Prakash Parekh Vs Commissioner of Customs – Kandla (CESTAT Ahmedabad) Conclusion: Customs duty demand on the undervaluation of plastic granules or flakes of powder was quashed in the absence of corroborative evidence and the value declared by assessee was correct being a transaction value and therefore, no addition could be made. Held: Assessee was located in the Special Economic Zone (SEZ) and engaged in the manufacturing of recycled Plastic granules/ flakes/ agglomerates/ Pallets/Bars/ Powder, and the SEZ units were also permitted to do trading of all items except restricted, prohibite...