https://www.taxtmi.com/caselaws?id=221635 Declared customs transaction value cannot be rejected unless the Revenue establishes a recognised ground under the valuation rules, and the Tribunal upheld the contractual price where the sale contracts were not disputed and no valid basis was shown for resorting to contemporaneous import values or average PLATT prices. Redemption fine and penalty were also not leviable because no finding of misdeclaration or confiscability was recorded against the importer, leaving no foundation for either sanction. en-us Wed, 10 Nov 2010 00:00:00 +0530 Wed, 12 Apr 2017 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221635 Declared customs transaction value cannot be rejected unless the Revenue establishes a recognised ground under the valuation rules, and the Tribunal upheld the contractual price where the sale contracts were not disputed and no valid basis was shown for resorting to contemporaneous import values or average PLATT prices. Redemption fine and penalty were also not leviable because no finding of misdeclaration or confiscability was recorded against the importer, leaving no foundation for either sanction. Case-Laws Customs Wed, 10 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221635