Importer’s Declared Value Accepted, Contemporaneous Import Value Not Conclusive

Commissioner of Customs Vs Kaveri Silks & Jute Private Limited (CESTAT Chennai) CESTAT Chennai held that transaction value declared by the importer duly accepted as earlier imports cleared accepting the declared value and also value of the contemporaneous import of identical goods has not been conclusively arrived at by the lower adjudicating authority. Facts- The Respondents have filed seven Bills-of-Entry for clearance of Raw Silk Yarn in hanks, classifying the imported goods under CTH 5002 0010 at the declared unit price of USD 13.75 (CIF) per kg. and the country of origin of the goods ...