https://www.taxtmi.com/caselaws?id=268697 Declared transaction value under Section 14 of the Customs Act, 1962 and the Customs Valuation Rules, 1988 cannot be rejected on quotations alone, because quotations are only indicative and do not prove the relevant import conditions. Comparison with alleged contemporaneous imports must rest on reliable, comparable evidence, including quantity and country of origin, and non-supply of relied-upon material causes prejudice. On the stated facts, the Revenue failed to prove undervaluation with acceptable evidence, so the valuation enhancement, duty demand, confiscation, and penalties could not stand. en-us Wed, 07 Jan 2015 00:00:00 +0530 Tue, 01 Dec 2015 00:02:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268697 Declared transaction value under Section 14 of the Customs Act, 1962 and the Customs Valuation Rules, 1988 cannot be rejected on quotations alone, because quotations are only indicative and do not prove the relevant import conditions. Comparison with alleged contemporaneous imports must rest on reliable, comparable evidence, including quantity and country of origin, and non-supply of relied-upon material causes prejudice. On the stated facts, the Revenue failed to prove undervaluation with acceptable evidence, so the valuation enhancement, duty demand, confiscation, and penalties could not stand. Case-Laws Customs Wed, 07 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268697