https://www.taxtmi.com/caselaws?id=108983 Declared transaction value of imported goods cannot be rejected merely because investigations or admissions in other importers' cases suggest a higher price; independent evidence must show that the importer's own transaction value is incorrect. Here, the declared value matched the purchase invoice, contemporaneous imports and domestic market prices supported it, and no commercial basis justified the enhanced valuation. The assessable value enhancement was therefore unsustainable, and the confiscation and penalty based on that enhancement could not survive. The goods were to be assessed on the declared value, with release following payment of duty accordingly. en-us Thu, 08 May 2003 00:00:00 +0530 Thu, 05 Apr 2012 12:34:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108983 Declared transaction value of imported goods cannot be rejected merely because investigations or admissions in other importers' cases suggest a higher price; independent evidence must show that the importer's own transaction value is incorrect. Here, the declared value matched the purchase invoice, contemporaneous imports and domestic market prices supported it, and no commercial basis justified the enhanced valuation. The assessable value enhancement was therefore unsustainable, and the confiscation and penalty based on that enhancement could not survive. The goods were to be assessed on the declared value, with release following payment of duty accordingly. Case-Laws Customs Thu, 08 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108983