https://www.taxtmi.com/caselaws?id=268003 Customs transaction value cannot be rejected on the basis of a doubtful quotation, an uncorroborated retracted statement, or an enquiry not tested in the importer's presence. Where the quotation lacks essential particulars and the imported goods are supported by commercial documents that are not convincingly rebutted, there is no reliable contemporaneous evidence to justify enhancement of assessable value. Once the valuation basis fails, consequential duty demand, confiscation and penalties also fail. A minimal excess in rolls, without reliable proof of undervaluation or mens rea, is insufficient to sustain penal action. en-us Thu, 13 Aug 2015 00:00:00 +0530 Tue, 23 Feb 2016 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268003 Customs transaction value cannot be rejected on the basis of a doubtful quotation, an uncorroborated retracted statement, or an enquiry not tested in the importer's presence. Where the quotation lacks essential particulars and the imported goods are supported by commercial documents that are not convincingly rebutted, there is no reliable contemporaneous evidence to justify enhancement of assessable value. Once the valuation basis fails, consequential duty demand, confiscation and penalties also fail. A minimal excess in rolls, without reliable proof of undervaluation or mens rea, is insufficient to sustain penal action. Case-Laws Customs Thu, 13 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268003