https://www.taxtmi.com/caselaws?id=110501 Imported goods are to be valued under Section 14 of the Customs Act by reference to the transaction value, being the price actually paid or payable for goods sold for export to India, adjusted under the Valuation Rules. The earlier 1997 price between the overseas supplier and the first purchaser was not the relevant assessable value because it did not reflect the price at the time and place of importation. The operative import transaction was the high seas sale to the appellant in 1998, so that sale price formed the assessable value. en-us Wed, 17 Sep 2003 00:00:00 +0530 Tue, 17 Apr 2012 11:49:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110501 Imported goods are to be valued under Section 14 of the Customs Act by reference to the transaction value, being the price actually paid or payable for goods sold for export to India, adjusted under the Valuation Rules. The earlier 1997 price between the overseas supplier and the first purchaser was not the relevant assessable value because it did not reflect the price at the time and place of importation. The operative import transaction was the high seas sale to the appellant in 1998, so that sale price formed the assessable value. Case-Laws Customs Wed, 17 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110501