Declared import value cannot be rejected on unsigned internet prices or uncorroborated references without reliable comparable evidence.

Declared import value could not be displaced by unsigned internet price listings or unsubstantiated baggage prices, because the source, reliability and basis of those materials were not established and they did not show whether the figures were retail or wholesale. A computer printout unsupported by proper authentication was not treated as dependable evidence for valuation under Section 138C of the Customs Act. The importer's certified manufacturer's price list was not discredited, and in the absence of credible comparable import evidence the transaction value remained valid. Confiscation and penalty for alleged undervaluation were therefore not sustainable, and the appeal succeeded.

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Issues: Whether the declared value of the imported lenses could be rejected on the basis of unsigned internet prices and unsubstantiated baggage prices, and whether the goods were liable to confiscation and penalty for alleged undervaluation.

Analysis: The internet document relied upon by the department was unsigned, its source was not established, and it did not disclose whether the stated prices were retail or wholesale. Such material could not be safely treated as reliable evidence or as a valid computer printout for the purpose of valuation under Section 138C of the Customs Act. The baggage prices referred to in the notice also lacked evidentiary value for international import valuation. The department did not discredit the manufacturer's price list produced by the importer and certified by it. In the absence of credible comparable import evidence, the declared transaction value could not be discarded, and the reliance placed on the impugned material was misplaced.

Conclusion: The rejection of the declared value was unjustified. The confiscation and penalty were not sustainable, and the appeal succeeded.

Ratio Decidendi: A declared import value cannot be rejected on the basis of unsigned or unverified internet material and other uncorroborated price references; reliable, contemporaneous and credible evidence is required to displace the transaction value.

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