https://www.taxtmi.com/caselaws?id=83616 Declared customs value cannot be accepted where the imported grade is not disclosed and the alleged contract is not satisfactorily proved, because the transaction value becomes unreliable. Once that value is rejected for misdeclaration, valuation must proceed sequentially through the customs valuation rules, and the residuary rule may be used only after recording why the earlier rules for identical or similar goods do not apply. Misdeclaration can justify confiscation and penalty, but the quantum may require review when valuation is redetermined. en-us Fri, 30 Sep 1994 00:00:00 +0530 Thu, 14 Jul 2011 15:43:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83616 Declared customs value cannot be accepted where the imported grade is not disclosed and the alleged contract is not satisfactorily proved, because the transaction value becomes unreliable. Once that value is rejected for misdeclaration, valuation must proceed sequentially through the customs valuation rules, and the residuary rule may be used only after recording why the earlier rules for identical or similar goods do not apply. Misdeclaration can justify confiscation and penalty, but the quantum may require review when valuation is redetermined. Case-Laws Customs Fri, 30 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83616