https://www.taxtmi.com/caselaws?id=203612 For a vessel imported for breaking, assessable value had to be determined on the transaction value under Section 14 of the Customs Act and Rule 4 of the Customs Valuation Rules, because the sale was for a lump-sum price supported by the agreement and payment through letter of credit. With no evidence of extra consideration or flow back, and no showing that the price was fixed in proportion to Light Displacement Tonnage, enhancement on that basis was not justified. The valuation dispute over LDT was held irrelevant on these facts, and the transaction value was accepted in favour of the assessee. en-us Wed, 04 Aug 2010 00:00:00 +0530 Thu, 09 Jun 2011 09:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203612 For a vessel imported for breaking, assessable value had to be determined on the transaction value under Section 14 of the Customs Act and Rule 4 of the Customs Valuation Rules, because the sale was for a lump-sum price supported by the agreement and payment through letter of credit. With no evidence of extra consideration or flow back, and no showing that the price was fixed in proportion to Light Displacement Tonnage, enhancement on that basis was not justified. The valuation dispute over LDT was held irrelevant on these facts, and the transaction value was accepted in favour of the assessee. Case-Laws Customs Wed, 04 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203612