https://www.taxtmi.com/caselaws?id=88291 Declared customs value cannot be rejected or assessable value enhanced on the basis of quotations and complainant-supplied material alone, absent reliable contemporaneous import evidence or equivalent proof of undervaluation. The Department failed to establish deliberate under-valuation, so the valuation enhancement under the customs valuation framework was unsustainable. Because the alleged excess licence value depended entirely on that enhanced valuation, the basis for confiscation under import licence provisions also fell away. The confiscation and consequential penalty were therefore not sustainable, and the impugned order was set aside. en-us Thu, 01 Jan 1998 00:00:00 +0530 Fri, 16 Sep 2011 16:47:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=88291 Declared customs value cannot be rejected or assessable value enhanced on the basis of quotations and complainant-supplied material alone, absent reliable contemporaneous import evidence or equivalent proof of undervaluation. The Department failed to establish deliberate under-valuation, so the valuation enhancement under the customs valuation framework was unsustainable. Because the alleged excess licence value depended entirely on that enhanced valuation, the basis for confiscation under import licence provisions also fell away. The confiscation and consequential penalty were therefore not sustainable, and the impugned order was set aside. Case-Laws Customs Thu, 01 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=88291