https://www.taxtmi.com/caselaws?id=113922 The Tribunal set aside the Commissioner's order that rejected the transaction value and adopted a value based on a quotation for imported Printer Calculators. It emphasized that a mere quotation cannot be the sole basis for valuing goods and noted discrepancies in the value enhancement. The Tribunal directed assessment based on the declared value, overturning the confiscation of the goods and the penalty imposed under Sections 111 and 112 of the Customs Act. en-us Mon, 07 Jun 2004 00:00:00 +0530 Wed, 09 May 2012 12:25:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113922 The Tribunal set aside the Commissioner's order that rejected the transaction value and adopted a value based on a quotation for imported Printer Calculators. It emphasized that a mere quotation cannot be the sole basis for valuing goods and noted discrepancies in the value enhancement. The Tribunal directed assessment based on the declared value, overturning the confiscation of the goods and the penalty imposed under Sections 111 and 112 of the Customs Act. Case-Laws Customs Mon, 07 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113922