The Tribunal observed that it does not appear that any further investigation was conducted by the Customs Officers to see if there was any flow back of the money to the buyer in those cases.
The New Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal ( CESTAT ) set aside the confiscation under Customs Act in absence of evidence of over-valuation of Goods and found that the transaction value has been wrongly rejected under Rule 8 of Customs Valuation Rules. The assessee/M/s Universal Offset filed a shipping bill…
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