https://www.taxtmi.com/caselaws?id=107588 Declared transaction value under Section 14 of the Customs Act and Rules 3 and 4 of the Customs Valuation Rules remains the starting point for customs valuation and may be rejected only on legally recognised grounds. Mere reliance on journal price reports, without independent evidence showing that the invoice price was not the price actually paid or payable, is insufficient to displace the declared value. Where the material used to challenge valuation is not disclosed to the importer for rebuttal, the process is unfair and the enhancement cannot stand. The stated principle is that suspicion or market indications alone do not justify rejection of transaction value. en-us Fri, 13 Jun 2003 00:00:00 +0530 Fri, 23 Mar 2012 15:37:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107588 Declared transaction value under Section 14 of the Customs Act and Rules 3 and 4 of the Customs Valuation Rules remains the starting point for customs valuation and may be rejected only on legally recognised grounds. Mere reliance on journal price reports, without independent evidence showing that the invoice price was not the price actually paid or payable, is insufficient to displace the declared value. Where the material used to challenge valuation is not disclosed to the importer for rebuttal, the process is unfair and the enhancement cannot stand. The stated principle is that suspicion or market indications alone do not justify rejection of transaction value. Case-Laws Customs Fri, 13 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107588