https://www.taxtmi.com/caselaws?id=246146 Customs valuation must follow the sequential methods in the Customs Valuation Rules, 2007, beginning with transaction value and then contemporaneous imports of identical or similar goods before any residual basis is used. An enhancement of assessable value cannot be sustained where customs authorities bypass that structured exercise and rely directly on public ledger figures. Because the prescribed valuation steps were not applied, the valuation determination was unsustainable. The matter was set aside and remanded for fresh assessment under the Rules, with the importer given an opportunity to produce evidence of contemporaneous imports. en-us Mon, 27 Jan 2014 00:00:00 +0530 Thu, 17 Apr 2014 08:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246146 Customs valuation must follow the sequential methods in the Customs Valuation Rules, 2007, beginning with transaction value and then contemporaneous imports of identical or similar goods before any residual basis is used. An enhancement of assessable value cannot be sustained where customs authorities bypass that structured exercise and rely directly on public ledger figures. Because the prescribed valuation steps were not applied, the valuation determination was unsustainable. The matter was set aside and remanded for fresh assessment under the Rules, with the importer given an opportunity to produce evidence of contemporaneous imports. Case-Laws Customs Mon, 27 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246146