https://www.taxtmi.com/caselaws?id=202653 Export valuation under the Customs Act must follow the statutory sequence in Section 2(41), Section 14(1) and the valuation rules, with the declared transaction value treated as the starting point. The Revenue bears the initial burden to show that the declared export value is incorrect; only then can the valuation move sequentially through the prescribed rules, with market enquiry as a last resort. Because the lower authorities relied on a market report without first applying the required valuation framework, the SC held that the matter had proceeded on an incorrect legal basis and remitted it for fresh adjudication in accordance with law. en-us Fri, 01 Apr 2011 00:00:00 +0530 Tue, 12 May 2026 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202653 Export valuation under the Customs Act must follow the statutory sequence in Section 2(41), Section 14(1) and the valuation rules, with the declared transaction value treated as the starting point. The Revenue bears the initial burden to show that the declared export value is incorrect; only then can the valuation move sequentially through the prescribed rules, with market enquiry as a last resort. Because the lower authorities relied on a market report without first applying the required valuation framework, the SC held that the matter had proceeded on an incorrect legal basis and remitted it for fresh adjudication in accordance with law. Case-Laws Customs Fri, 01 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202653