https://www.taxtmi.com/caselaws?id=268342 ATA Carnet value could not be adopted as the assessable value for customs duty on sale of imported cars because it reflected commercial value in the country of issue for insurance and bank guarantee purposes, not customs valuation under Section 14 of the Customs Act. The declared transaction value in the Bills of Entry was to be accepted because contemporaneous imports of identical cars supported it, the importer-principal relationship had not influenced the price, and Rule 8(2)(iii) barred valuation by reference to the domestic market price of the country of exportation. en-us Fri, 11 Sep 2015 00:00:00 +0530 Wed, 24 Feb 2016 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268342 ATA Carnet value could not be adopted as the assessable value for customs duty on sale of imported cars because it reflected commercial value in the country of issue for insurance and bank guarantee purposes, not customs valuation under Section 14 of the Customs Act. The declared transaction value in the Bills of Entry was to be accepted because contemporaneous imports of identical cars supported it, the importer-principal relationship had not influenced the price, and Rule 8(2)(iii) barred valuation by reference to the domestic market price of the country of exportation. Case-Laws Customs Fri, 11 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268342