https://www.taxtmi.com/caselaws?id=126918 Declared transaction value of imported goods cannot be rejected and assessable value cannot be enhanced under the Customs Valuation Rules without contemporaneous or corroborative evidence. The text states that transaction value must be accepted where it is shown to be correct, and that the revenue cannot proceed to alternative valuation methods on unsupported allegations. It also notes that imports made without the special licence required under the EXIM Policy may still be confiscated, but the redemption fine and penalty should be calibrated to the circumstances and comparable treatment in similar matters. On that reasoning, the valuation enhancement was set aside, confiscation was maintained, and the fiscal consequences were reduced. en-us Wed, 15 Oct 2008 00:00:00 +0530 Wed, 06 Feb 2013 09:41:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126918 Declared transaction value of imported goods cannot be rejected and assessable value cannot be enhanced under the Customs Valuation Rules without contemporaneous or corroborative evidence. The text states that transaction value must be accepted where it is shown to be correct, and that the revenue cannot proceed to alternative valuation methods on unsupported allegations. It also notes that imports made without the special licence required under the EXIM Policy may still be confiscated, but the redemption fine and penalty should be calibrated to the circumstances and comparable treatment in similar matters. On that reasoning, the valuation enhancement was set aside, confiscation was maintained, and the fiscal consequences were reduced. Case-Laws Customs Wed, 15 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126918