https://www.taxtmi.com/caselaws?id=206881 Imported goods cannot be revalued on PLATT prices alone unless the transaction value is first rejected by a reasoned speaking order and the Customs Valuation Rules are applied in the prescribed sequence. The authorities must show a legally sustainable basis, such as contemporaneous imports of identical goods or other valid reasons, before enhancing declared value. Reliance on PLATT data without this foundation was inconsistent with natural justice and valuation law, so the enhancement was held unjustified and the impugned orders were set aside in favour of the assessee. en-us Thu, 24 Feb 2011 00:00:00 +0530 Wed, 24 Aug 2011 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206881 Imported goods cannot be revalued on PLATT prices alone unless the transaction value is first rejected by a reasoned speaking order and the Customs Valuation Rules are applied in the prescribed sequence. The authorities must show a legally sustainable basis, such as contemporaneous imports of identical goods or other valid reasons, before enhancing declared value. Reliance on PLATT data without this foundation was inconsistent with natural justice and valuation law, so the enhancement was held unjustified and the impugned orders were set aside in favour of the assessee. Case-Laws Central Excise Thu, 24 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206881