https://www.taxtmi.com/caselaws?id=88306 In customs valuation, the declared transaction value of imported bearings could not be rejected merely because the Department relied on the supplier's price list. The accompanying forwarding letter showed that the 20% discount was not fixed or maximum and that higher discounts could be granted case by case. As the authorities did not dispute the genuineness of the supplier's invoice, the actual purchase price remained the proper basis of assessment. The rejection of the transaction value was therefore unjustified, the valuation order was set aside, and consequential relief followed. en-us Fri, 09 Jan 1998 00:00:00 +0530 Fri, 16 Sep 2011 17:16:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=88306 In customs valuation, the declared transaction value of imported bearings could not be rejected merely because the Department relied on the supplier's price list. The accompanying forwarding letter showed that the 20% discount was not fixed or maximum and that higher discounts could be granted case by case. As the authorities did not dispute the genuineness of the supplier's invoice, the actual purchase price remained the proper basis of assessment. The rejection of the transaction value was therefore unjustified, the valuation order was set aside, and consequential relief followed. Case-Laws Customs Fri, 09 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=88306