https://www.taxtmi.com/caselaws?id=78217 SC held that, for valuation of an imported vessel under Section 14 of the Customs Act, the actual price paid as per a subsequent addendum to the memorandum of agreement may constitute the transaction value, provided the addendum's genuineness and the necessity for price reduction are rigorously scrutinized. The Tribunal erred in rejecting the importer's claim solely because the original agreement did not contain a price-variation clause and without examining the authenticity of the addendum. SC set aside the Tribunal's order and remitted the matter for fresh consideration in accordance with these principles. en-us Fri, 22 Oct 2010 00:00:00 +0530 Tue, 02 Dec 2025 16:45:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78217 SC held that, for valuation of an imported vessel under Section 14 of the Customs Act, the actual price paid as per a subsequent addendum to the memorandum of agreement may constitute the transaction value, provided the addendum's genuineness and the necessity for price reduction are rigorously scrutinized. The Tribunal erred in rejecting the importer's claim solely because the original agreement did not contain a price-variation clause and without examining the authenticity of the addendum. SC set aside the Tribunal's order and remitted the matter for fresh consideration in accordance with these principles. Case-Laws Customs Fri, 22 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78217