https://www.taxtmi.com/caselaws?id=167494 Declared invoice values for imported bearings were rejected because the surrounding correspondence and supply pattern did not sufficiently prove that the goods were sold only from old stock at reduced prices. The Tribunal treated the supplier's contemporaneous circular letter as reliable evidence of special net prices for India and upheld valuation on that basis under Section 14 of the Customs Act. On that footing, the lower authorities were justified in treating the goods as misdeclared, and confiscation and penalties were sustained. en-us Tue, 19 Mar 1985 00:00:00 +0530 Mon, 22 Dec 2014 14:41:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167494 Declared invoice values for imported bearings were rejected because the surrounding correspondence and supply pattern did not sufficiently prove that the goods were sold only from old stock at reduced prices. The Tribunal treated the supplier's contemporaneous circular letter as reliable evidence of special net prices for India and upheld valuation on that basis under Section 14 of the Customs Act. On that footing, the lower authorities were justified in treating the goods as misdeclared, and confiscation and penalties were sustained. Case-Laws Customs Tue, 19 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167494