https://www.taxtmi.com/caselaws?id=124142 Customs valuation principles distinguish between pre-26 September 2006 ship demurrage and other import-related charges. Ship demurrage for imports before that date was treated as excluded from assessable value. Where valuation rests on transaction value, deductions for Bottom Sludge and Water and Free Water lack merit without a basis to depart from that value. War Risk Insurance Premium forms part of assessable value unless a legal basis for exclusion is established. Rectification proceedings may address omitted grounds on their merits, resulting in partial relief while retaining insurance inclusion and rejecting the claimed deductions. en-us Tue, 29 Jul 2008 00:00:00 +0530 Wed, 26 Sep 2012 10:16:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124142 Customs valuation principles distinguish between pre-26 September 2006 ship demurrage and other import-related charges. Ship demurrage for imports before that date was treated as excluded from assessable value. Where valuation rests on transaction value, deductions for Bottom Sludge and Water and Free Water lack merit without a basis to depart from that value. War Risk Insurance Premium forms part of assessable value unless a legal basis for exclusion is established. Rectification proceedings may address omitted grounds on their merits, resulting in partial relief while retaining insurance inclusion and rejecting the claimed deductions. Case-Laws Customs Tue, 29 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124142