https://www.taxtmi.com/caselaws?id=106110 Where the buyer and foreign supplier were found not to be related persons, Rule 4(3) of the Customs (Valuation) Rules, 1988 could not be invoked to reject the declared transaction value. Valuation had to be examined first under Rule 4(1) and the exceptions in Rule 4(2) before any resort to the residual method under Rule 5. The document notes that bypassing this statutory sequence was legally unsustainable, leading to remand for fresh determination of assessable value after applying the correct order of valuation rules and giving the importer an opportunity of hearing. en-us Fri, 28 Dec 2001 00:00:00 +0530 Mon, 12 Mar 2012 16:35:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106110 Where the buyer and foreign supplier were found not to be related persons, Rule 4(3) of the Customs (Valuation) Rules, 1988 could not be invoked to reject the declared transaction value. Valuation had to be examined first under Rule 4(1) and the exceptions in Rule 4(2) before any resort to the residual method under Rule 5. The document notes that bypassing this statutory sequence was legally unsustainable, leading to remand for fresh determination of assessable value after applying the correct order of valuation rules and giving the importer an opportunity of hearing. Case-Laws Customs Fri, 28 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106110