https://www.taxtmi.com/caselaws?id=86397 Declared transaction value for imported goods under section 14 of the Customs Act, 1962 could not be rejected or enhanced merely by averaging prices of other imported oils. The department had not established any statutory basis for finding the declared value unreliable, and the adjudicating authority's use of a notional average was unsupported despite its own enquiry finding no room for price increase. The operative principle is that transaction value must be accepted unless non-compliance with valuation parameters is shown; on that basis, the enhanced assessment was unsustainable and the assessee succeeded. en-us Sun, 16 Feb 1997 00:00:00 +0530 Wed, 24 Aug 2011 15:39:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86397 Declared transaction value for imported goods under section 14 of the Customs Act, 1962 could not be rejected or enhanced merely by averaging prices of other imported oils. The department had not established any statutory basis for finding the declared value unreliable, and the adjudicating authority's use of a notional average was unsupported despite its own enquiry finding no room for price increase. The operative principle is that transaction value must be accepted unless non-compliance with valuation parameters is shown; on that basis, the enhanced assessment was unsustainable and the assessee succeeded. Case-Laws Customs Sun, 16 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86397