M/S. Gira Enterprises & Anr vs Commissioner Of Customs, Ahmedabad

The Supreme Court upheld the decision of the Customs, Excise and Service Tax Appellate Tribunal, affirming the valuation of imported goods under Section 18(2) and Section 28(2) of the Customs Act, 1962. The Court found that the appellants failed to provide adequate evidence to dispute the assessed value of US $ 1860 PMT, which was based on market rates for similar goods. The Court held that the Tribunal's dismissal of the appeal was justified, confirming the imposition of differential duty and penalties under Sections 111(m) and 114A of the Customs Act, 1962.