https://www.taxtmi.com/caselaws?id=118163 Transaction value of imported goods must be accepted under the amended customs valuation regime unless the specific grounds for rejection in Rule 4(2) are established. Where the declared price is supported by a contract, the import falls within the contracted period, and there is no evidence of related-party dealing, extra-commercial consideration, or additional payment, the declared value cannot be displaced by contemporaneous import prices. The residual valuation method cannot be invoked inconsistently before the preceding valuation rules, including the rule for identical goods, have failed. On these facts, the assessable value was properly based on the contracted price, subject only to the importer's voluntary marginal enhancement. en-us Mon, 20 Mar 2006 00:00:00 +0530 Thu, 14 Mar 2024 17:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118163 Transaction value of imported goods must be accepted under the amended customs valuation regime unless the specific grounds for rejection in Rule 4(2) are established. Where the declared price is supported by a contract, the import falls within the contracted period, and there is no evidence of related-party dealing, extra-commercial consideration, or additional payment, the declared value cannot be displaced by contemporaneous import prices. The residual valuation method cannot be invoked inconsistently before the preceding valuation rules, including the rule for identical goods, have failed. On these facts, the assessable value was properly based on the contracted price, subject only to the importer's voluntary marginal enhancement. Case-Laws Customs Mon, 20 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118163