https://www.taxtmi.com/caselaws?id=110233 Declared import value cannot be rejected merely because a common director exists between the foreign supplier and the Indian marketing concern. In the absence of contemporaneous import evidence, proof of mutual interest, or material showing that the invoice price was not genuine, the department does not discharge the burden of proving undervaluation under the Customs Valuation Rules; the transaction value is therefore protected. Where undeclared goods are found in the consignment and the duty liability is sustained, the penalty may still be moderated if the original amount is excessive in relation to the proved liability, and it was reduced accordingly. en-us Tue, 02 Dec 2003 00:00:00 +0530 Sat, 14 Apr 2012 12:51:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110233 Declared import value cannot be rejected merely because a common director exists between the foreign supplier and the Indian marketing concern. In the absence of contemporaneous import evidence, proof of mutual interest, or material showing that the invoice price was not genuine, the department does not discharge the burden of proving undervaluation under the Customs Valuation Rules; the transaction value is therefore protected. Where undeclared goods are found in the consignment and the duty liability is sustained, the penalty may still be moderated if the original amount is excessive in relation to the proved liability, and it was reduced accordingly. Case-Laws Customs Tue, 02 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110233