https://www.taxtmi.com/caselaws?id=114292 Declared import transaction value may be rejected only when the statutory conditions for doing so under the Customs Valuation Rules are satisfied. Internal correspondence, an office memorandum, or other surrounding material is not enough by itself to justify discarding the invoice price and fixing a higher assessable value. The alleged second-hand nature of the machine was not treated as decisive for rejection of the declared price. In the absence of a legally sustainable basis to displace the invoice value, the transaction value must be accepted and a speculative reassessment cannot stand. en-us Wed, 17 Mar 2004 00:00:00 +0530 Mon, 14 May 2012 14:41:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114292 Declared import transaction value may be rejected only when the statutory conditions for doing so under the Customs Valuation Rules are satisfied. Internal correspondence, an office memorandum, or other surrounding material is not enough by itself to justify discarding the invoice price and fixing a higher assessable value. The alleged second-hand nature of the machine was not treated as decisive for rejection of the declared price. In the absence of a legally sustainable basis to displace the invoice value, the transaction value must be accepted and a speculative reassessment cannot stand. Case-Laws Customs Wed, 17 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114292