https://www.taxtmi.com/caselaws?id=254731 In a related-party import, transaction value under the Customs Valuation Rules, 1988 can be accepted only if the relationship did not influence price and the declared value is shown to closely approximate contemporaneous values. The importer failed to produce reliable evidence, such as international price lists, to establish that the full 40% discount was uniformly available to all buyers, and the record suggested an abnormal profit margin with an additional discount not available to others. At the same time, the discount practice could not be disregarded entirely. The declared invoice value was therefore not accepted in full, but enhancement was limited to 25% for amendment of the Bill of Entry. en-us Thu, 31 Oct 2013 00:00:00 +0530 Tue, 30 Dec 2014 06:42:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254731 In a related-party import, transaction value under the Customs Valuation Rules, 1988 can be accepted only if the relationship did not influence price and the declared value is shown to closely approximate contemporaneous values. The importer failed to produce reliable evidence, such as international price lists, to establish that the full 40% discount was uniformly available to all buyers, and the record suggested an abnormal profit margin with an additional discount not available to others. At the same time, the discount practice could not be disregarded entirely. The declared invoice value was therefore not accepted in full, but enhancement was limited to 25% for amendment of the Bill of Entry. Case-Laws Customs Thu, 31 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254731