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Case Law Details

Case Name : Global Technologies and Research Vs Principal Commissioner of Customs (Supreme Court of India)
Appeal Number : Civil Appeal No. 9385 of 2022
Date of Judgement/Order : 15/03/2024
Related Assessment Year :
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Global Technologies and Research Vs Principal Commissioner of Customs (Supreme Court of India)

Supreme Court held that transaction value of imported goods duly discarded/ rejected as it is found that there are imports of identical/ similar goods at higher value at around the same time.

Facts- The appellant assessee has been a regular importer of camera stabilizer devices for the last several years. The appellant assessee imported a consignment of camera stabilizer devices under a Bill of Entry dated 16th February 2018. On the basis of the Intelligence, the goods were examined 100% by SIIB officers. It was alleged that the goods were grossly undervalued. After taking representative samples, the goods were detained for further investigation.

Vide the order-in-original the adjudicating authority rejected the declared assessable value of the goods imported and assessed the value of the imported goods at Rs.66,18,575/-. The adjudicating authority ordered recovery of differential customs duty of Rs. 16,22,228/-.

The appeal preferred by the appellant before Commissioner of Customs (Appeals) was allowed. However, CESTAT restored the order-in-original passed by the adjudicating authority.

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