https://www.taxtmi.com/caselaws?id=202403 The Supreme Court dismissed the appeals concerning the determination of transaction value of imported ships/vessels for customs duty assessment under the Customs Act. The Court upheld the Tribunal's decision accepting the reduced price in addendums due to discrepancies as the transaction value, as the genuineness of the addendums was not challenged by the revenue. The Court found that the differences between the original agreement and the imported vessel justified the price reduction, leading to the dismissal of the appeals for lack of merit. en-us Thu, 07 Oct 2010 00:00:00 +0530 Mon, 17 Jan 2011 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202403 The Supreme Court dismissed the appeals concerning the determination of transaction value of imported ships/vessels for customs duty assessment under the Customs Act. The Court upheld the Tribunal's decision accepting the reduced price in addendums due to discrepancies as the transaction value, as the genuineness of the addendums was not challenged by the revenue. The Court found that the differences between the original agreement and the imported vessel justified the price reduction, leading to the dismissal of the appeals for lack of merit. Case-Laws Customs Thu, 07 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202403