https://www.taxtmi.com/caselaws?id=126030 Declared transaction value of imported goods cannot be rejected merely because contemporaneous imports or international journal quotations show higher prices. Where the invoice price and contract price are supported by commercial circumstances and there is no evidence of flow back, extra-commercial consideration, or other special circumstance, the valuation rules do not permit rejection of transaction value. Journal quotations may indicate prevailing market prices on a given date, but they are not by themselves a valid basis for enhancement of assessable value. On the record, the conditions for rejection of declared value were not established, so value enhancement was not justified. en-us Mon, 23 Feb 2009 00:00:00 +0530 Thu, 01 Nov 2012 15:35:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126030 Declared transaction value of imported goods cannot be rejected merely because contemporaneous imports or international journal quotations show higher prices. Where the invoice price and contract price are supported by commercial circumstances and there is no evidence of flow back, extra-commercial consideration, or other special circumstance, the valuation rules do not permit rejection of transaction value. Journal quotations may indicate prevailing market prices on a given date, but they are not by themselves a valid basis for enhancement of assessable value. On the record, the conditions for rejection of declared value were not established, so value enhancement was not justified. Case-Laws Customs Mon, 23 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126030