https://www.taxtmi.com/caselaws?id=107378 Declared transaction value supported by a contemporaneous purchase invoice from the country of origin must ordinarily be accepted for customs valuation under Rule 4 of the Customs Valuation Rules. The adjudicating objections based on the invoice and transport mode were insufficient to reject that value, and quotation-based or notional alternate methods could not displace a genuine transaction value without valid grounds. On that basis, the rejection of transaction value was unsustainable, and confiscation and penalties were set aside. The additional customs duty liability, however, remained undisturbed. en-us Thu, 20 Mar 2003 00:00:00 +0530 Thu, 22 Mar 2012 10:41:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107378 Declared transaction value supported by a contemporaneous purchase invoice from the country of origin must ordinarily be accepted for customs valuation under Rule 4 of the Customs Valuation Rules. The adjudicating objections based on the invoice and transport mode were insufficient to reject that value, and quotation-based or notional alternate methods could not displace a genuine transaction value without valid grounds. On that basis, the rejection of transaction value was unsustainable, and confiscation and penalties were set aside. The additional customs duty liability, however, remained undisturbed. Case-Laws Customs Thu, 20 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107378