https://www.taxtmi.com/caselaws?id=166742 The Tribunal ruled in favor of the appellant, finding that insurance charges should not be included in the assessable value of imported goods when the goods are uninsured. It held that under Section 14 of the Customs Act, only the genuine price should be considered for assessment. The Tribunal also emphasized that refund claims are subject to a limitation period and must align with the original claim made before the Assistant Collector. Consequently, the goods were reassessed without the inclusion of insurance charges, and a refund was granted based on the revised assessable value in accordance with Section 27 of the Customs Act. en-us Thu, 29 Dec 1983 00:00:00 +0530 Mon, 03 Nov 2014 12:29:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=166742 The Tribunal ruled in favor of the appellant, finding that insurance charges should not be included in the assessable value of imported goods when the goods are uninsured. It held that under Section 14 of the Customs Act, only the genuine price should be considered for assessment. The Tribunal also emphasized that refund claims are subject to a limitation period and must align with the original claim made before the Assistant Collector. Consequently, the goods were reassessed without the inclusion of insurance charges, and a refund was granted based on the revised assessable value in accordance with Section 27 of the Customs Act. Case-Laws Customs Thu, 29 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=166742