https://www.taxtmi.com/caselaws?id=269342 The appellant imported cosmetics from China, declaring the transaction value as the assessable value. Assessing officers increased the value by 50%, later finding branded goods during examination. The value was further enhanced, leading to confiscation, fines, duty confirmation, and penalties. The appellant argued goods were bought as stock lots at invoice value, containing various branded items. Revenue's reliance on market surveys for valuation was deemed improper, lacking adherence to Customs Valuation Rules. Orders were set aside, and appeals allowed in favor of the appellant due to unjustified valuation methods by the Revenue. en-us Wed, 24 Sep 2014 00:00:00 +0530 Sun, 13 Dec 2015 22:26:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269342 The appellant imported cosmetics from China, declaring the transaction value as the assessable value. Assessing officers increased the value by 50%, later finding branded goods during examination. The value was further enhanced, leading to confiscation, fines, duty confirmation, and penalties. The appellant argued goods were bought as stock lots at invoice value, containing various branded items. Revenue's reliance on market surveys for valuation was deemed improper, lacking adherence to Customs Valuation Rules. Orders were set aside, and appeals allowed in favor of the appellant due to unjustified valuation methods by the Revenue. Case-Laws Customs Wed, 24 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269342