https://www.taxtmi.com/caselaws?id=117296 Under Rule 5 of the Customs Valuation Rules, 1988, the comparable import closest in time to the subject import may be used as contemporaneous evidence of value, even if it occurred shortly after the assessed import, unless the law expressly forbids that approach. The Commissioner (Appeals) was justified in preferring a comparable import seven days later over another import about two months earlier, because proximity in time was the relevant criterion for valuation. On that basis, the Revenue's proposed enhancement on the earlier comparable price was rejected. en-us Fri, 12 Aug 2005 00:00:00 +0530 Thu, 21 Jun 2012 16:22:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117296 Under Rule 5 of the Customs Valuation Rules, 1988, the comparable import closest in time to the subject import may be used as contemporaneous evidence of value, even if it occurred shortly after the assessed import, unless the law expressly forbids that approach. The Commissioner (Appeals) was justified in preferring a comparable import seven days later over another import about two months earlier, because proximity in time was the relevant criterion for valuation. On that basis, the Revenue's proposed enhancement on the earlier comparable price was rejected. Case-Laws Customs Fri, 12 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117296