Declared transaction value for used imported cars cannot be rejected without evidence of suppression or misdeclaration.

For a used imported car, the declared invoice price must be accepted as transaction value where the invoice is genuine and there is no allegation of suppression or misdeclaration. The customs authorities could not discard the declared value under Rule 4(2) of the Customs Valuation Rules, 1988, and had no basis to invoke Rule 8 or adopt a best judgment valuation from Parker's Car Guide. The valuation based only on a different model's guide price was therefore not sustainable on the facts.

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Issues: Whether the invoice price of the used imported car was required to be accepted as the transaction value, or whether the customs authorities were justified in rejecting it and adopting the price from Parker's Car Guide under the valuation rules.

Analysis: The imported car was a used vehicle and the appellant produced the supplier's invoice showing the purchase and freight value. There was no allegation that the invoice was bogus, nor that the stated price did not reflect the true transaction value. In such circumstances, the conditions for discarding the declared value under Rule 4(2) of the Customs Valuation Rules, 1988 were not made out, and there was no basis to invoke Rule 8 and resort to the best judgment method. The valuation adopted solely on the basis of a different model's guide price was therefore not sustainable on the facts.

Conclusion: The invoice price had to be accepted as the transaction value, and the customs valuation based on Parker's Car Guide was rejected.

Ratio Decidendi: Where the invoice for a used imported car is genuine and there is no allegation of suppression or misdeclaration of price, the declared transaction value cannot be discarded and best judgment valuation under Rule 8 is impermissible.

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