https://www.taxtmi.com/caselaws?id=260849 Where an importer and foreign supplier are related persons and the evidence shows that the relationship influenced the declared import price, the transaction value may be rejected under customs valuation principles. Here, the supplier's controlling shareholding and board influence established related-party status, and comparison with sales to independent buyers of the same grade and code, after suitable adjustment for cutting and joining charges, showed the importer's price was lower. The declared value was therefore not acceptable, and customs authorities were justified in applying the alternative valuation method to determine an arm's length price. en-us Fri, 08 May 2015 00:00:00 +0530 Thu, 20 Aug 2015 15:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260849 Where an importer and foreign supplier are related persons and the evidence shows that the relationship influenced the declared import price, the transaction value may be rejected under customs valuation principles. Here, the supplier's controlling shareholding and board influence established related-party status, and comparison with sales to independent buyers of the same grade and code, after suitable adjustment for cutting and joining charges, showed the importer's price was lower. The declared value was therefore not acceptable, and customs authorities were justified in applying the alternative valuation method to determine an arm's length price. Case-Laws Customs Fri, 08 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260849