https://www.taxtmi.com/caselaws?id=116030 Valuation of imported used rubber tyres under Rule 8 of the Customs Valuation Rules, 1988 must rest on reasonable means consistent with the Rules and contemporaneous data. Reliance on a June 1994 import to value a July 1996 consignment was held unsound because stale import data could not support assessable value. At the same time, a declared value lower than freight charges could not be accepted as correct on its face. The assessable value findings of both lower authorities were therefore set aside and the matter remanded for fresh valuation under Rule 8. en-us Thu, 26 May 2005 00:00:00 +0530 Wed, 06 Jun 2012 16:19:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116030 Valuation of imported used rubber tyres under Rule 8 of the Customs Valuation Rules, 1988 must rest on reasonable means consistent with the Rules and contemporaneous data. Reliance on a June 1994 import to value a July 1996 consignment was held unsound because stale import data could not support assessable value. At the same time, a declared value lower than freight charges could not be accepted as correct on its face. The assessable value findings of both lower authorities were therefore set aside and the matter remanded for fresh valuation under Rule 8. Case-Laws Customs Thu, 26 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116030