Customs valuation under Rule 12 treats declared transaction...

Customs valuation under Rule 12 treats declared transaction value as the primary basis, and it may be rejected only on objective, reasonable doubt supported by contemporaneous comparables or proof of additional consideration. If rejection is justified, valuation must then proceed strictly through the prescribed sequential rules, not by arbitrary standard rates. Electronic records in customs adjudication require authenticity, certification and a clear chain of custody, while denial of cross-examination and non-supply of relied-upon material undermine natural justice. Extended limitation requires strict proof of suppression or intent to evade duty, and confiscation or penalty cannot rest on a mere valuation dispute or unproven misdeclaration.