Redetermination of Imported Goods Value Based Solely on Importer’s Admission Not Allowed

Krishna Impex International Vs Commissioner of Customs (ICD) (CESTAT Delhi) CESTAT Delhi held that merely because there is admission by the importer does not absolve the department to act in compliance of the mandatory provisions. Thus, re-determination of value of goods without complying with section 14 and the Valuation Rules is not justifiable and hence transaction value declared by importer is accepted. Facts- M/s Krishna Impex International has assailed the Order-in-Appeal dated 29.07.2011 upholding the Order-in-Original confirming the differential duty amount along with penalty and redem...