https://www.taxtmi.com/caselaws?id=255551 Customs value under Section 14(1) of the Customs Act, 1962 must be based on the price actually paid or payable, and transaction value can be rejected only on clear and cogent evidence. For imported PU Coated Fabrics, mere reliance on NIDB data was insufficient because the goods varied in thickness and quality, and the record did not show reliable contemporaneous imports of comparable goods from the same source. In the absence of evidence on quality, quantity, origin, and time and place of import, Rule 9 of the Customs Valuation Rules, 2007 could not be invoked to enhance the declared value. en-us Wed, 29 Oct 2014 00:00:00 +0530 Tue, 23 Feb 2016 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255551 Customs value under Section 14(1) of the Customs Act, 1962 must be based on the price actually paid or payable, and transaction value can be rejected only on clear and cogent evidence. For imported PU Coated Fabrics, mere reliance on NIDB data was insufficient because the goods varied in thickness and quality, and the record did not show reliable contemporaneous imports of comparable goods from the same source. In the absence of evidence on quality, quantity, origin, and time and place of import, Rule 9 of the Customs Valuation Rules, 2007 could not be invoked to enhance the declared value. Case-Laws Customs Wed, 29 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255551