https://www.taxtmi.com/caselaws?id=84591 Imported goods sold by a canalising agency on high seas basis were valued on the basis of the final sale price between the agency and the importers, and the related service charges formed part of the assessable value because no bona fide buying agency arrangement or buying commission was proved. In the SAIL imports, failure to disclose the high seas sale invoice and the true transaction price in the import documents amounted to misdeclaration and suppression of material facts, supporting extended limitation, confiscation and penalty. The stated ratio is that the high seas sale price, together with recoverable service charges, governs valuation where the agency is not shown to be merely an agent for the importer abroad. en-us Wed, 15 Nov 1995 00:00:00 +0530 Fri, 22 Jul 2011 18:47:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84591 Imported goods sold by a canalising agency on high seas basis were valued on the basis of the final sale price between the agency and the importers, and the related service charges formed part of the assessable value because no bona fide buying agency arrangement or buying commission was proved. In the SAIL imports, failure to disclose the high seas sale invoice and the true transaction price in the import documents amounted to misdeclaration and suppression of material facts, supporting extended limitation, confiscation and penalty. The stated ratio is that the high seas sale price, together with recoverable service charges, governs valuation where the agency is not shown to be merely an agent for the importer abroad. Case-Laws Customs Wed, 15 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84591