https://www.taxtmi.com/caselaws?id=72687 Import valuation under the Customs Act must be based on the commercial invoice price where the buyer and foreign supplier deal at arm's length and there is no evidence of extra-commercial influence or depressed pricing. A foreign supplier's shareholding in the Indian buyer and board representation did not by itself establish mutuality of interest, because the interest was not reciprocal. Royalty and trade-mark payments linked only to indigenous manufacture and local marketing, and not to the imported SKD/CKD packs or complete vehicles, could not justify a 1% loading on import value. The assessable value therefore remained the invoice price under Section 14(1)(a), and resort to Section 14(1)(b) and Rule 8 was unwarranted. en-us Wed, 24 Dec 1986 00:00:00 +0530 Tue, 24 May 2011 13:11:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=72687 Import valuation under the Customs Act must be based on the commercial invoice price where the buyer and foreign supplier deal at arm's length and there is no evidence of extra-commercial influence or depressed pricing. A foreign supplier's shareholding in the Indian buyer and board representation did not by itself establish mutuality of interest, because the interest was not reciprocal. Royalty and trade-mark payments linked only to indigenous manufacture and local marketing, and not to the imported SKD/CKD packs or complete vehicles, could not justify a 1% loading on import value. The assessable value therefore remained the invoice price under Section 14(1)(a), and resort to Section 14(1)(b) and Rule 8 was unwarranted. Case-Laws Customs Wed, 24 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=72687