https://www.taxtmi.com/caselaws?id=89664 Transaction value under the Customs Valuation Rules remained the primary basis for import valuation, and it could be rejected only on legally recognised disqualifying grounds. As the Revenue did not establish such grounds, and the relied-upon contemporaneous imports were not truly comparable because of differences in quantity and source, the enhancement of assessable value was set aside. A lower contemporaneous price for identical goods was also available, requiring adoption of the lowest transaction value. Once the valuation enhancement failed, the confiscation, redemption fine and penalty, which were consequential to that enhancement, also fell away and were set aside. en-us Fri, 04 Dec 1998 00:00:00 +0530 Wed, 28 Sep 2011 18:04:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89664 Transaction value under the Customs Valuation Rules remained the primary basis for import valuation, and it could be rejected only on legally recognised disqualifying grounds. As the Revenue did not establish such grounds, and the relied-upon contemporaneous imports were not truly comparable because of differences in quantity and source, the enhancement of assessable value was set aside. A lower contemporaneous price for identical goods was also available, requiring adoption of the lowest transaction value. Once the valuation enhancement failed, the confiscation, redemption fine and penalty, which were consequential to that enhancement, also fell away and were set aside. Case-Laws Customs Fri, 04 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89664