https://www.taxtmi.com/caselaws?id=97580 Under the Customs Valuation Rules, the declared transaction value must be accepted as the price actually paid or payable unless the Revenue proves valid grounds to reject it. Rule 8 may be used only when value cannot be determined by the sequential valuation scheme under the earlier rules. Where no reliable evidence shows that the declared price is false, related-party influence, or other grounds to displace it, enhancement by reference to comparable market prices is not justified. On that basis, confiscation and penalty resting on the enhanced value are also unsustainable. en-us Tue, 08 Aug 2000 00:00:00 +0530 Tue, 17 Jan 2012 12:53:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97580 Under the Customs Valuation Rules, the declared transaction value must be accepted as the price actually paid or payable unless the Revenue proves valid grounds to reject it. Rule 8 may be used only when value cannot be determined by the sequential valuation scheme under the earlier rules. Where no reliable evidence shows that the declared price is false, related-party influence, or other grounds to displace it, enhancement by reference to comparable market prices is not justified. On that basis, confiscation and penalty resting on the enhanced value are also unsustainable. Case-Laws Customs Tue, 08 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97580