https://www.taxtmi.com/caselaws?id=119621 After rejection of the declared transaction value, assessable value under the Customs Valuation Rules, 1988 could not be enhanced merely on the basis of a proforma invoice or quotation, because such documents are only indicative of price and are not a safe standalone basis for valuation. The sequential valuation mechanism in Rules 5 to 8 had to be applied before any fresh enhancement could be sustained. Where the lower authorities failed to undertake that statutory exercise and relied on inconsistent material, the valuation determination was unsustainable and the matter required de novo adjudication in accordance with law after hearing the parties. en-us Mon, 24 Apr 2006 00:00:00 +0530 Thu, 12 Jul 2012 12:19:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119621 After rejection of the declared transaction value, assessable value under the Customs Valuation Rules, 1988 could not be enhanced merely on the basis of a proforma invoice or quotation, because such documents are only indicative of price and are not a safe standalone basis for valuation. The sequential valuation mechanism in Rules 5 to 8 had to be applied before any fresh enhancement could be sustained. Where the lower authorities failed to undertake that statutory exercise and relied on inconsistent material, the valuation determination was unsustainable and the matter required de novo adjudication in accordance with law after hearing the parties. Case-Laws Customs Mon, 24 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119621