https://www.taxtmi.com/caselaws?id=87755 The Tribunal allowed the appeal in favor of the appellants in a case concerning the valuation of imported goods under Section 14 of the Customs Act, 1962. The dispute arose from discrepancies in the declared price versus prevailing market price of High Density Polyethylene Grade Mitsui 'HIZEX 5000 S' imported from Japan. The Tribunal held that the declared price of US $1,180 per M.T. should be accepted as the assessable value, emphasizing the contractual agreement between the parties and disregarding prevailing market conditions or relationships between parties. en-us Fri, 31 Jan 1997 00:00:00 +0530 Sat, 10 Sep 2011 11:19:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=87755 The Tribunal allowed the appeal in favor of the appellants in a case concerning the valuation of imported goods under Section 14 of the Customs Act, 1962. The dispute arose from discrepancies in the declared price versus prevailing market price of High Density Polyethylene Grade Mitsui 'HIZEX 5000 S' imported from Japan. The Tribunal held that the declared price of US $1,180 per M.T. should be accepted as the assessable value, emphasizing the contractual agreement between the parties and disregarding prevailing market conditions or relationships between parties. Case-Laws Customs Fri, 31 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=87755