https://www.taxtmi.com/caselaws?id=238354 Declared transaction value under the Customs Valuation Rules may be rejected only on reasonable doubt supported by material evidence; generalized suspicion, alert notes, or the fact that a director resides abroad are insufficient. Contemporaneous import data must be genuinely comparable, and the sequential valuation scheme must be followed before resorting to the residual method. The residual method is permissible only where value cannot be determined under the preceding rules and must rely on reasonable, reliable means consistent with the Rules. On the stated record, there was no evidence of extra consideration, related-party influence, or lack of genuineness, so rejection of the declared value and enhancement of assessable value were not sustainable. en-us Tue, 14 May 2013 00:00:00 +0530 Thu, 30 Jul 2015 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238354 Declared transaction value under the Customs Valuation Rules may be rejected only on reasonable doubt supported by material evidence; generalized suspicion, alert notes, or the fact that a director resides abroad are insufficient. Contemporaneous import data must be genuinely comparable, and the sequential valuation scheme must be followed before resorting to the residual method. The residual method is permissible only where value cannot be determined under the preceding rules and must rely on reasonable, reliable means consistent with the Rules. On the stated record, there was no evidence of extra consideration, related-party influence, or lack of genuineness, so rejection of the declared value and enhancement of assessable value were not sustainable. Case-Laws Customs Tue, 14 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238354