https://www.taxtmi.com/caselaws?id=247826 Declared import value between related entities was rejected where surrounding commercial arrangements, replacement-based sourcing, underbilling of related charges and non-independent discounts showed that the stated price was influenced by connected dealings rather than a reliable transaction value. The customs valuation based on the department's method was upheld. Suppression of material agreements and facts before the Special Valuation Branch justified invocation of the extended period and sustaining penalty. Redemption fine and individual penalties were, however, reduced because the quantum was found excessive and no material showed personal monetary gain. en-us Thu, 12 Dec 2013 00:00:00 +0530 Thu, 17 Nov 2016 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247826 Declared import value between related entities was rejected where surrounding commercial arrangements, replacement-based sourcing, underbilling of related charges and non-independent discounts showed that the stated price was influenced by connected dealings rather than a reliable transaction value. The customs valuation based on the department's method was upheld. Suppression of material agreements and facts before the Special Valuation Branch justified invocation of the extended period and sustaining penalty. Redemption fine and individual penalties were, however, reduced because the quantum was found excessive and no material showed personal monetary gain. Case-Laws Customs Thu, 12 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247826