Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
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For customs valuation, the amended transaction-value regime requires acceptance of the price actually paid or payable in the particular import transaction where buyer and seller are unrelated and price is the sole consideration. Where the original consignee defaulted without payment, bill of entry, title, or delivery, its initial contract did not establish the relevant sale value. The subsequent importer's renegotiated price paid to the overseas supplier was treated as transaction value because no relationship, additional consideration, or excess payment was alleged. Earlier deemed-value rulings under the pre-amendment regime were inapplicable. The majority view sustained the declared value and dismissed Revenue's appeal.
For customs valuation, the amended transaction-value regime requires acceptance of the price actually paid or payable in the particular import transaction where buyer and seller are unrelated and price is the sole consideration. Where the original consignee defaulted without payment, bill of entry, title, or delivery, its initial contract did not establish the relevant sale value. The subsequent importer's renegotiated price paid to the overseas supplier was treated as transaction value because no relationship, additional consideration, or excess payment was alleged. Earlier deemed-value rulings under the pre-amendment regime were inapplicable. The majority view sustained the declared value and dismissed Revenue's appeal.
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