https://www.taxtmi.com/caselaws?id=202402 Declared transaction value in customs valuation must be accepted unless the authority records findings showing the special circumstances under the valuation rules that justify rejection under Section 14 of the Customs Act, 1962. A valuation enhancement based on a misapplied contemporaneous comparison, including reliance on a non-comparable import and a proforma invoice from a different stage of the commercial chain, is unsustainable. Where there is no evidence of additional payment over the declared price and the proposal for confiscation and penalty is dropped, the declared assessable value cannot be rejected on the facts found. en-us Wed, 11 Aug 2010 00:00:00 +0530 Wed, 02 Feb 2011 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202402 Declared transaction value in customs valuation must be accepted unless the authority records findings showing the special circumstances under the valuation rules that justify rejection under Section 14 of the Customs Act, 1962. A valuation enhancement based on a misapplied contemporaneous comparison, including reliance on a non-comparable import and a proforma invoice from a different stage of the commercial chain, is unsustainable. Where there is no evidence of additional payment over the declared price and the proposal for confiscation and penalty is dropped, the declared assessable value cannot be rejected on the facts found. Case-Laws Customs Wed, 11 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202402