Undervaluation suspicion permits disregarding declared transaction value; importer must explain or customs may apply alternate valuation.

Authority under Section 14(1) permits disregarding declared transaction value when under valuation is reasonably suspected and prima facie evidence exists; acceptable evidence includes published price lists and previously accepted customs values. If declared price is substantially lower than known prices, the importer must satisfactorily explain the difference; failing that, customs may reject the transaction value after giving a reasonable opportunity and apply subsequent valuation methods under the Rules.

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