https://www.taxtmi.com/caselaws?id=74930 The Tribunal upheld the Additional Collector's decision to enhance the value of imported Waterjet Looms based on contemporaneous imports, rejecting the appellants' arguments on the applicability of new customs valuation rules and the relevance of a supplier's letter. The Tribunal emphasized that the value of goods should be based on the price at which similar goods are sold at the time and place of importation, supporting the higher value determined by the Additional Collector. The appeal was dismissed, affirming the validity of the enhanced value under Section 14(1)(a) of the Customs Act. en-us Mon, 12 Jun 1989 00:00:00 +0530 Mon, 13 Jun 2011 14:37:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=74930 The Tribunal upheld the Additional Collector's decision to enhance the value of imported Waterjet Looms based on contemporaneous imports, rejecting the appellants' arguments on the applicability of new customs valuation rules and the relevance of a supplier's letter. The Tribunal emphasized that the value of goods should be based on the price at which similar goods are sold at the time and place of importation, supporting the higher value determined by the Additional Collector. The appeal was dismissed, affirming the validity of the enhanced value under Section 14(1)(a) of the Customs Act. Case-Laws Customs Mon, 12 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=74930