https://www.taxtmi.com/caselaws?id=1241 Declared transaction value under the Customs Valuation Rules, 1988 could not be rejected and enhanced in the absence of recorded reasons or a legally sustainable basis for discarding it; reliance on flawed Chartered Engineer certificates did not justify substitution of value. The appellate reduction of redemption fine and penalty was also upheld because the authority had exercised discretion on relevant factors, and no error in principle was shown to warrant interference. The appellate order was therefore sustained in full, and the revenue challenge failed. en-us Mon, 05 Feb 2007 00:00:00 +0530 Mon, 14 Apr 2008 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1241 Declared transaction value under the Customs Valuation Rules, 1988 could not be rejected and enhanced in the absence of recorded reasons or a legally sustainable basis for discarding it; reliance on flawed Chartered Engineer certificates did not justify substitution of value. The appellate reduction of redemption fine and penalty was also upheld because the authority had exercised discretion on relevant factors, and no error in principle was shown to warrant interference. The appellate order was therefore sustained in full, and the revenue challenge failed. Case-Laws Customs Mon, 05 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1241