Rejection of transaction value without evidence on record is untenable

Advertisement Surya Exim Limited Vs C.C. Ahmedabad (CESTAT Ahmedabad) CESTAT Ahmedabad held that rejection of transaction value and enhancement of assessable value has to be on the basis of some evidence on record. Rejection of transaction value in absence of any evidence is untenable in law. Facts- The appellant had imported 400.5 MTs Suspension grade PVC Resin Off Grade/ Wet Venilen 140/145/150 imported from Venezuela and filed Bill of entry No. 920/0910 dated 11.03.2010. It was noticed by the department that the appellant–importer has not submitted a chemical analysis report in respect...