https://www.taxtmi.com/caselaws?id=80497 Customs valuation must be based on reliable contemporaneous comparable material, and a foreign quotation that differs in source, market context, freight and handling cannot automatically fix assessable value. The declared value was rejected, but the reassessment had to allow a greater discount than the lower authority adopted. Goods imported in CKD condition were also treated as partly restricted, and a licence produced only during adjudication did not as of right cure the defect or extend OGL coverage to all items. Confiscation was therefore sustained, while the redemption fine and penalty were reduced. en-us Wed, 14 Feb 1990 00:00:00 +0530 Fri, 17 Jun 2011 12:49:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=80497 Customs valuation must be based on reliable contemporaneous comparable material, and a foreign quotation that differs in source, market context, freight and handling cannot automatically fix assessable value. The declared value was rejected, but the reassessment had to allow a greater discount than the lower authority adopted. Goods imported in CKD condition were also treated as partly restricted, and a licence produced only during adjudication did not as of right cure the defect or extend OGL coverage to all items. Confiscation was therefore sustained, while the redemption fine and penalty were reduced. Case-Laws Customs Wed, 14 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=80497