https://www.taxtmi.com/caselaws?id=108442 Declared transaction value for imported air conditioners cannot be rejected under Rule 8 unless the Revenue establishes a truly comparable import and a proper basis for enhancement. A relied-upon comparison failed because the quantity, timing and commercial conditions differed, and the record showed no evidence of extra consideration flowing to the importers. A faxed price offer and an unsigned offer to an unidentified company were insufficient to displace the invoice value supported by import documents. With no valid foundation for rejecting transaction value, the consequential confiscation and penalties also fell. en-us Fri, 07 Mar 2003 00:00:00 +0530 Sat, 31 Mar 2012 15:23:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108442 Declared transaction value for imported air conditioners cannot be rejected under Rule 8 unless the Revenue establishes a truly comparable import and a proper basis for enhancement. A relied-upon comparison failed because the quantity, timing and commercial conditions differed, and the record showed no evidence of extra consideration flowing to the importers. A faxed price offer and an unsigned offer to an unidentified company were insufficient to displace the invoice value supported by import documents. With no valid foundation for rejecting transaction value, the consequential confiscation and penalties also fell. Case-Laws Customs Fri, 07 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108442