https://www.taxtmi.com/caselaws?id=117278 Where imported goods were shipped by air and the freight component was separately ascertainable from the invoice, purchase order and airway bills, the Customs Valuation Rules required freight to be capped at 20% of FOB value under Rule 9(2). The lower authorities erred by treating the invoice as CIF value and by ignoring the proviso that applies when transport cost can be determined. The separate mention of insurance in the documents did not prevent application of the valuation rule, because the cost of transport remained capable of proper ascertainment. The valuation adopted below was therefore set aside and the assessee's claim was accepted. en-us Wed, 15 Feb 2006 00:00:00 +0530 Thu, 21 Jun 2012 15:17:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117278 Where imported goods were shipped by air and the freight component was separately ascertainable from the invoice, purchase order and airway bills, the Customs Valuation Rules required freight to be capped at 20% of FOB value under Rule 9(2). The lower authorities erred by treating the invoice as CIF value and by ignoring the proviso that applies when transport cost can be determined. The separate mention of insurance in the documents did not prevent application of the valuation rule, because the cost of transport remained capable of proper ascertainment. The valuation adopted below was therefore set aside and the assessee's claim was accepted. Case-Laws Customs Wed, 15 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117278