https://www.taxtmi.com/caselaws?id=106796 Prior registration of import contracts under the relevant notification had to be assessed by reference to the statutory meaning of "import" as the physical bringing of goods into India; an administrative clarification shifting the reference point to shipment could not override the parent Act. On the facts, the contracts were registered before import, so the confiscation condition was not met. In valuation, a declared transaction value could not be rejected on weak or irrelevant material, especially where supplier confirmations and export-union certification supported the prices. Unless the Department produces cogent evidence discrediting the declared value, enhancement is not justified. en-us Fri, 22 Nov 2002 00:00:00 +0530 Thu, 15 Mar 2012 17:10:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106796 Prior registration of import contracts under the relevant notification had to be assessed by reference to the statutory meaning of "import" as the physical bringing of goods into India; an administrative clarification shifting the reference point to shipment could not override the parent Act. On the facts, the contracts were registered before import, so the confiscation condition was not met. In valuation, a declared transaction value could not be rejected on weak or irrelevant material, especially where supplier confirmations and export-union certification supported the prices. Unless the Department produces cogent evidence discrediting the declared value, enhancement is not justified. Case-Laws Customs Fri, 22 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106796