https://www.taxtmi.com/caselaws?id=109972 Declared import value may be rejected only on compliance with the prescribed valuation procedure, including a proper basis for doubting accuracy and observance of the required opportunity to explain; general market material or a later study report, without that process, cannot displace the transaction value. Where the import registration condition was fulfilled before the goods reached customs and before bills of entry were filed, no actionable breach was established to support confiscation. As the value enhancement failed, the related confiscation, redemption fine, and penalty also lacked an independent basis and were not sustainable. en-us Fri, 01 Aug 2003 00:00:00 +0530 Fri, 12 Jul 2024 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109972 Declared import value may be rejected only on compliance with the prescribed valuation procedure, including a proper basis for doubting accuracy and observance of the required opportunity to explain; general market material or a later study report, without that process, cannot displace the transaction value. Where the import registration condition was fulfilled before the goods reached customs and before bills of entry were filed, no actionable breach was established to support confiscation. As the value enhancement failed, the related confiscation, redemption fine, and penalty also lacked an independent basis and were not sustainable. Case-Laws Customs Fri, 01 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109972