https://www.taxtmi.com/caselaws?id=95104 Customs value cannot be rejected and reassessed on the basis of the selling price of similar indigenous goods in the local market where the valuation rules expressly prohibit that method. A reassessment founded on a local market enquiry comparing imported radiators with domestic goods was therefore unlawful, and the resulting confiscation and penalty could not be sustained as they were consequential to the invalid valuation exercise. The declared value was to be accepted, and the importer was entitled to release of the goods. en-us Thu, 16 Nov 2000 00:00:00 +0530 Wed, 07 Dec 2011 18:23:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=95104 Customs value cannot be rejected and reassessed on the basis of the selling price of similar indigenous goods in the local market where the valuation rules expressly prohibit that method. A reassessment founded on a local market enquiry comparing imported radiators with domestic goods was therefore unlawful, and the resulting confiscation and penalty could not be sustained as they were consequential to the invalid valuation exercise. The declared value was to be accepted, and the importer was entitled to release of the goods. Case-Laws Customs Thu, 16 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=95104