https://www.taxtmi.com/caselaws?id=125950 Transaction value of imported cars must be accepted unless circumstances justifying rejection under the Customs Valuation Rules are established; on the facts, the invoice value was properly retained and the Revenue's challenge failed. In a Transfer of Residence case, the post-importation no-sale restriction became otiose once confiscation, redemption fine, and penalty were imposed, so the trading condition was lifted. However, breach of the import-policy requirement of prior possession and use for the stipulated period justified confiscation and the attendant penal consequences, which were upheld. en-us Mon, 13 Oct 2008 00:00:00 +0530 Wed, 31 Oct 2012 18:04:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125950 Transaction value of imported cars must be accepted unless circumstances justifying rejection under the Customs Valuation Rules are established; on the facts, the invoice value was properly retained and the Revenue's challenge failed. In a Transfer of Residence case, the post-importation no-sale restriction became otiose once confiscation, redemption fine, and penalty were imposed, so the trading condition was lifted. However, breach of the import-policy requirement of prior possession and use for the stipulated period justified confiscation and the attendant penal consequences, which were upheld. Case-Laws Customs Mon, 13 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125950