https://www.taxtmi.com/caselaws?id=170214 Declared transaction value of imported aluminium scrap could be rejected only on legally sustainable grounds under Section 14 of the Customs Act and the valuation rules. The department's reliance on an alert circular, LME-linked indications and a disputed foreign invoice was found insufficient because the invoice and related documents were unsigned, inconsistent in address and description, and did not reliably prove undervaluation. In the absence of contemporaneous import evidence and proper compliance with the Customs Valuation Rules, 1988, the enhancement could not be sustained. The declared value was accepted, and the duty demand, confiscation and penalties were held unsustainable. en-us Thu, 24 Nov 2011 00:00:00 +0530 Tue, 25 Jul 2023 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170214 Declared transaction value of imported aluminium scrap could be rejected only on legally sustainable grounds under Section 14 of the Customs Act and the valuation rules. The department's reliance on an alert circular, LME-linked indications and a disputed foreign invoice was found insufficient because the invoice and related documents were unsigned, inconsistent in address and description, and did not reliably prove undervaluation. In the absence of contemporaneous import evidence and proper compliance with the Customs Valuation Rules, 1988, the enhancement could not be sustained. The declared value was accepted, and the duty demand, confiscation and penalties were held unsustainable. Case-Laws Customs Thu, 24 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170214