https://www.taxtmi.com/caselaws?id=97325 Declared transaction value is the primary basis for customs valuation of imported goods under the Customs Act and Customs Valuation Rules, and it may be displaced only where a recognised statutory exception applies or the value cannot be determined under the primary rule. External market references such as Parker's Guide cannot be used to ignore the actual price paid merely because the authorities consider them more appropriate. Applying the principle in Eicher Tractors, the declared transaction value of the imported second-hand car had to be accepted, and the enhanced valuation based on market data could not stand. en-us Thu, 13 Sep 2001 00:00:00 +0530 Tue, 07 May 2019 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97325 Declared transaction value is the primary basis for customs valuation of imported goods under the Customs Act and Customs Valuation Rules, and it may be displaced only where a recognised statutory exception applies or the value cannot be determined under the primary rule. External market references such as Parker's Guide cannot be used to ignore the actual price paid merely because the authorities consider them more appropriate. Applying the principle in Eicher Tractors, the declared transaction value of the imported second-hand car had to be accepted, and the enhanced valuation based on market data could not stand. Case-Laws Customs Thu, 13 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97325