https://www.taxtmi.com/caselaws?id=107362 The court held that the Monopolies and Restrictive Trade Practices Commission (MRTPC) exceeded its jurisdiction in fixing the value of imported goods, as this falls under the purview of the Customs Act. The Assistant Commissioner of Customs was found to have violated principles of natural justice by assessing customs duty prematurely. The court emphasized the need to value goods based on actual transaction value per the Customs Act and Valuation Rules, not on MRTPC's determinations. The court quashed the orders, directed a new assessment, ordered a refund, and closed the petitions. en-us Wed, 05 Feb 2003 00:00:00 +0530 Wed, 21 Mar 2012 18:29:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107362 The court held that the Monopolies and Restrictive Trade Practices Commission (MRTPC) exceeded its jurisdiction in fixing the value of imported goods, as this falls under the purview of the Customs Act. The Assistant Commissioner of Customs was found to have violated principles of natural justice by assessing customs duty prematurely. The court emphasized the need to value goods based on actual transaction value per the Customs Act and Valuation Rules, not on MRTPC's determinations. The court quashed the orders, directed a new assessment, ordered a refund, and closed the petitions. Case-Laws Customs Wed, 05 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107362