https://www.taxtmi.com/caselaws?id=121281 Customs authorities cannot reject the declared transaction value and substitute a foreign market price for imported goods when the declared price reflects supply at the Indian port of import. Rule 8 of the Customs Valuation (Determination of Price of Imported Goods) Rules, 1988 does not permit adoption of a price intended for export to a destination outside India, and no valid reason was shown for displacing the transaction value. The valuation enhancement was therefore unsustainable, and the assessment orders were set aside in favour of the assessee. en-us Thu, 22 Mar 2007 00:00:00 +0530 Sat, 28 Jul 2012 10:29:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121281 Customs authorities cannot reject the declared transaction value and substitute a foreign market price for imported goods when the declared price reflects supply at the Indian port of import. Rule 8 of the Customs Valuation (Determination of Price of Imported Goods) Rules, 1988 does not permit adoption of a price intended for export to a destination outside India, and no valid reason was shown for displacing the transaction value. The valuation enhancement was therefore unsustainable, and the assessment orders were set aside in favour of the assessee. Case-Laws Customs Thu, 22 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121281