https://www.taxtmi.com/caselaws?id=125848 Declared import value can be rejected only where cogent reasons bring the case within the recognised exceptions to the transaction-value rule. Reliance on a valuation circular and depreciation alone was insufficient, because the show-cause notice did not set out a satisfactory basis for discarding the value declared at import or for excluding Rule 4(1) treatment under Rule 4(2). Without a properly reasoned case and a meaningful opportunity to rebut it, revaluation of the goods could not be sustained, and the declared transaction value was required to be accepted. en-us Mon, 02 Feb 2009 00:00:00 +0530 Tue, 30 Oct 2012 17:39:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125848 Declared import value can be rejected only where cogent reasons bring the case within the recognised exceptions to the transaction-value rule. Reliance on a valuation circular and depreciation alone was insufficient, because the show-cause notice did not set out a satisfactory basis for discarding the value declared at import or for excluding Rule 4(1) treatment under Rule 4(2). Without a properly reasoned case and a meaningful opportunity to rebut it, revaluation of the goods could not be sustained, and the declared transaction value was required to be accepted. Case-Laws Customs Mon, 02 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125848