https://www.taxtmi.com/caselaws?id=98030 Declared transaction value for imported goods may be rejected where contemporaneous import data, supplier correspondence and statements show that the invoice price does not reflect the normal price between independent buyer and seller. In such circumstances, assessable value may be fixed on the basis of comparable imports, particularly where the evidence shows price variation in the supplier's exports and a special commercial understanding for the consignment. Where the enhanced value is not covered by the relevant licence, confiscation may follow under Customs law, and redemption fine may be sustained if proportionate to the duty involved. en-us Tue, 02 Jun 1998 00:00:00 +0530 Wed, 18 Jan 2012 18:30:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98030 Declared transaction value for imported goods may be rejected where contemporaneous import data, supplier correspondence and statements show that the invoice price does not reflect the normal price between independent buyer and seller. In such circumstances, assessable value may be fixed on the basis of comparable imports, particularly where the evidence shows price variation in the supplier's exports and a special commercial understanding for the consignment. Where the enhanced value is not covered by the relevant licence, confiscation may follow under Customs law, and redemption fine may be sustained if proportionate to the duty involved. Case-Laws Customs Tue, 02 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98030