https://www.taxtmi.com/caselaws?id=122422 Imported CD players and multi-cassette players were required to be valued on a market-based basis under the Customs Valuation Rules because the importer's quotation was outside the permissible valuation period, no contemporaneous imports or authorised dealers were available, and the supporting proforma invoice was found unreliable. The assessable value was therefore redetermined under Rule 8 on the lower end of the available market range. On settlement, conditional immunity was granted under the Customs Act because the applicant cooperated, later ed the revised market valuation, and settled the duty liability; the relief extended to interest, fine and prosecution, subject to statutory safeguards, with only a token penalty imposed. en-us Mon, 19 Mar 2001 00:00:00 +0530 Mon, 13 Aug 2012 15:49:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122422 Imported CD players and multi-cassette players were required to be valued on a market-based basis under the Customs Valuation Rules because the importer's quotation was outside the permissible valuation period, no contemporaneous imports or authorised dealers were available, and the supporting proforma invoice was found unreliable. The assessable value was therefore redetermined under Rule 8 on the lower end of the available market range. On settlement, conditional immunity was granted under the Customs Act because the applicant cooperated, later ed the revised market valuation, and settled the duty liability; the relief extended to interest, fine and prosecution, subject to statutory safeguards, with only a token penalty imposed. Case-Laws Customs Mon, 19 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122422