https://www.taxtmi.com/caselaws?id=255422 Where the importer and supplier were treated as related persons and the importer failed to rebut a manufacturer-confirmed invoice with reliable contrary evidence, the declared transaction value of the imported car was correctly rejected; under-valuation and suppression of the true invoice justified confiscation for misdeclaration. The pre-import foreign registration did not defeat the exemption for a new vehicle where the odometer showed zero usage and the registration was done only for export formalities, so Notification No. 21/2002-Cus. remained available. The result was sustained valuation and confiscation findings, with the exemption benefit allowed. en-us Tue, 15 Jul 2014 00:00:00 +0530 Fri, 16 Jan 2015 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255422 Where the importer and supplier were treated as related persons and the importer failed to rebut a manufacturer-confirmed invoice with reliable contrary evidence, the declared transaction value of the imported car was correctly rejected; under-valuation and suppression of the true invoice justified confiscation for misdeclaration. The pre-import foreign registration did not defeat the exemption for a new vehicle where the odometer showed zero usage and the registration was done only for export formalities, so Notification No. 21/2002-Cus. remained available. The result was sustained valuation and confiscation findings, with the exemption benefit allowed. Case-Laws Customs Tue, 15 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255422