https://www.taxtmi.com/caselaws?id=94098 For valuation of goods sold on the high seas, the assessable value is the genuine transaction price of the high-seas sale between the seller and the purchaser, not the price at which an earlier importer acquired the goods. The earlier Larger Bench view applied that the high-seas transaction value governs unless the department proves that the declared price was manipulated or false. As no such manipulation or falsity was established, the assessable value had to be taken as the price at which the goods were sold to the appellant on the high seas. en-us Mon, 25 Sep 2000 00:00:00 +0530 Sat, 19 Nov 2011 11:11:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94098 For valuation of goods sold on the high seas, the assessable value is the genuine transaction price of the high-seas sale between the seller and the purchaser, not the price at which an earlier importer acquired the goods. The earlier Larger Bench view applied that the high-seas transaction value governs unless the department proves that the declared price was manipulated or false. As no such manipulation or falsity was established, the assessable value had to be taken as the price at which the goods were sold to the appellant on the high seas. Case-Laws Central Excise Mon, 25 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94098