https://www.taxtmi.com/caselaws?id=100819 Customs valuation of imported knitted velvet fabric could not be sustained on the basis of later Bills of Entry and a standing order fixing a higher rate for four-way pile fabric. The valuation under Rule 8 of the Customs Valuation Rules, 1988 read with Rule 14(1) of the Customs Act, 1962 had to rest on contemporaneous imports from the relevant period, and comparisons with imports made much later were improper. The standing order, by itself, did not justify enhancement. The impugned orders were set aside and the matter was remanded for fresh consideration using imports from the relevant period. en-us Wed, 21 Nov 2001 00:00:00 +0530 Tue, 07 Feb 2012 12:11:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100819 Customs valuation of imported knitted velvet fabric could not be sustained on the basis of later Bills of Entry and a standing order fixing a higher rate for four-way pile fabric. The valuation under Rule 8 of the Customs Valuation Rules, 1988 read with Rule 14(1) of the Customs Act, 1962 had to rest on contemporaneous imports from the relevant period, and comparisons with imports made much later were improper. The standing order, by itself, did not justify enhancement. The impugned orders were set aside and the matter was remanded for fresh consideration using imports from the relevant period. Case-Laws Customs Wed, 21 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100819