https://www.taxtmi.com/caselaws?id=117285 Transaction value remains the primary basis for customs valuation under the Customs Valuation Rules, 1988, and can be rejected only on the specific grounds set out in the Rules. A higher price paid by another importer or in contemporaneous imports, without proof that the declared price was not a true commercial value or that the comparables were truly equivalent, is insufficient to enhance value. A sole distributorship arrangement, without statutory indicia of control or other defined relationships, does not by itself establish related-person status. Rule 10A applies only where there is genuine doubt about the accuracy of the declared value. Allegations of suppression or wilful misstatement are also required to invoke the extended limitation period. en-us Tue, 21 Feb 2006 00:00:00 +0530 Thu, 28 Mar 2024 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117285 Transaction value remains the primary basis for customs valuation under the Customs Valuation Rules, 1988, and can be rejected only on the specific grounds set out in the Rules. A higher price paid by another importer or in contemporaneous imports, without proof that the declared price was not a true commercial value or that the comparables were truly equivalent, is insufficient to enhance value. A sole distributorship arrangement, without statutory indicia of control or other defined relationships, does not by itself establish related-person status. Rule 10A applies only where there is genuine doubt about the accuracy of the declared value. Allegations of suppression or wilful misstatement are also required to invoke the extended limitation period. Case-Laws Customs Tue, 21 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117285