Customs valuation based on contemporaneous comparable imports bars arbitrary enhancement of declared transaction value.

Contemporaneous comparable imports from the same country of origin supported the declared transaction value, and prior assessments of similar goods had accepted comparable prices. Applying Rule 5(3) of the Customs Valuation Rules, 1988, the lowest comparable value was the proper benchmark, so enhancement of the assessable value was unjustified. The declared value was therefore accepted and the loading of value set aside, with the Revenue's challenge failing.

---

---

Issues: Whether the declared transaction value of the imported goods was rightly accepted and the enhancement of assessable value was sustainable.

Analysis: Similar goods from the same country of origin had been imported during the relevant period at values broadly within the range of the declared price, and prior assessments of comparable imports had accepted such values. Applying Rule 5(3) of the Customs Valuation Rules, 1988, the lowest comparable value was required to be adopted. On that basis, the declared transaction value was found to be acceptable and the loading of value was unjustified.

Conclusion: The enhancement of assessable value was rightly set aside and the Revenue's challenge failed.

Final Conclusion: The order accepting the declared value and rejecting the enhancement was upheld, and the appeal was dismissed.

Ratio Decidendi: Where contemporaneous comparable imports support the declared price, the assessable value should be determined on that basis in accordance with the valuation rules, and arbitrary loading is impermissible.

---