https://www.taxtmi.com/caselaws?id=114798 For customs valuation of an imported vessel, the contemporaneous original memorandum of agreement fixing the sale price for delivery at Alang was treated as the relevant transaction value because the vessel's description and essential particulars remained unchanged. A later lower agreement did not justify reducing the assessable value, and a 3% buying commission was held impermissible on the facts recorded. The operative effect is that the assessable value must be based on the original agreement price under the valuation rules, rather than on a subsequent reduced arrangement or unsupported deduction. en-us Wed, 06 Oct 2004 00:00:00 +0530 Mon, 21 May 2012 12:19:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114798 For customs valuation of an imported vessel, the contemporaneous original memorandum of agreement fixing the sale price for delivery at Alang was treated as the relevant transaction value because the vessel's description and essential particulars remained unchanged. A later lower agreement did not justify reducing the assessable value, and a 3% buying commission was held impermissible on the facts recorded. The operative effect is that the assessable value must be based on the original agreement price under the valuation rules, rather than on a subsequent reduced arrangement or unsupported deduction. Case-Laws Customs Wed, 06 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114798