https://www.taxtmi.com/caselaws?id=85739 A declared import price under customs valuation cannot be rejected merely because contemporaneous imports of the same goods were priced higher. Where the importer shows that the goods were obtained through a genuine Singapore trader arrangement, with bulk orders and direct dispatch from the manufacturer and the trader retaining its margin, the transaction is a bona fide commercial deal in the normal course of business. In the absence of material showing mala fides or other facts making the declared price unacceptable, the department must accept the transaction value and cannot enhance assessable value. On that basis, confiscation, redemption fine, and penalty were not sustainable. en-us Mon, 26 Aug 1996 00:00:00 +0530 Sat, 06 Aug 2011 17:56:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85739 A declared import price under customs valuation cannot be rejected merely because contemporaneous imports of the same goods were priced higher. Where the importer shows that the goods were obtained through a genuine Singapore trader arrangement, with bulk orders and direct dispatch from the manufacturer and the trader retaining its margin, the transaction is a bona fide commercial deal in the normal course of business. In the absence of material showing mala fides or other facts making the declared price unacceptable, the department must accept the transaction value and cannot enhance assessable value. On that basis, confiscation, redemption fine, and penalty were not sustainable. Case-Laws Customs Mon, 26 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85739