Case Law Details
Principal Commissioner Vs Wall Street Impex (CESTAT Delhi)
CESTAT Delhi held that as per Rule 4 of the Customs Valuation (Value of Imported goods) 2007, the value shall be the value of contemporaneous imports of identical goods. If such a value is not found, then as per Rule 5, the value shall then be the value of contemporaneous imports of similar goods. Only if neither is available, Rules, 7 can be resorted to.
Facts- The Show Cause Notices were issued by officers of Directorate of Revenue Intelligence. However, learned consultant for the Respondents specifically submitted that he was not pressing on the competence of the officers of DRI to issue the SCN as that issue is pending before the Supreme Court in a Review Petition filed by the Revenue. He prayed that the appeals may be decided on merits.
Officers of DRI received intelligence and suspected that the goods imported by the Respondent importers were mis-declared, undervalued, imported in violation of the restrictions on imports imposed by the Ministry of Electronics and Information Technology and initiated investigations and issued Show Cause Notices.
The importers (Respondents herein) assailed the order of the lower authority before the Commissioner (Appeals) on the Valuation, confiscation and quantum of penalties imposed. Revenue appealed against the order assailing the acceptance of the declared value in some Bills of Entry and non- imposition of penalty on the Customs Brokers. The Commissioner (Appeals) rejected the Revenue’s appeal. He partly allowed the appeal by the importers directing the values to be re-determined on the basis of contemporaneous imports and reducing the fine and penalties.
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