https://www.taxtmi.com/caselaws?id=119784 Declared transaction value of secondary/defective CRGO electrical steel imported through Chennai was accepted where the department relied on higher Mumbai import prices and partner statements to reject valuation. The statements were not treated as an admission of undervaluation, and the Chennai and Mumbai goods were not identical or similar because of differences in physical condition, wastage characteristics and contract terms, including a guarantee clause for the Mumbai imports. Contemporaneous Chennai imports of comparable goods at lower prices also supported the declared value. The valuation could not be sustained under Rule 8 of the Customs Valuation Rules, 1988, and the declared value was treated as the true transaction value under Rule 4. The duty demand, confiscation and penalty were set aside. en-us Wed, 28 Jun 2006 00:00:00 +0530 Fri, 13 Jul 2012 11:25:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119784 Declared transaction value of secondary/defective CRGO electrical steel imported through Chennai was accepted where the department relied on higher Mumbai import prices and partner statements to reject valuation. The statements were not treated as an admission of undervaluation, and the Chennai and Mumbai goods were not identical or similar because of differences in physical condition, wastage characteristics and contract terms, including a guarantee clause for the Mumbai imports. Contemporaneous Chennai imports of comparable goods at lower prices also supported the declared value. The valuation could not be sustained under Rule 8 of the Customs Valuation Rules, 1988, and the declared value was treated as the true transaction value under Rule 4. The duty demand, confiscation and penalty were set aside. Case-Laws Customs Wed, 28 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119784