https://www.taxtmi.com/caselaws?id=1980 Declared transaction value for imported goods cannot be rejected and replaced with an enhanced assessable value unless the assessing authority records reasons and identifies a lawful basis for doing so. The valuation scheme under section 14 of the Customs Act and the Customs Valuation Rules requires assessment on transaction value unless rejection is justified on permissible grounds; a vague reference to an unspecified international market value is insufficient. An enhancement made without reliable material or compliance with the statutory valuation framework is unsustainable, and the appeal succeeded. en-us Mon, 02 Apr 2007 00:00:00 +0530 Tue, 15 Apr 2008 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1980 Declared transaction value for imported goods cannot be rejected and replaced with an enhanced assessable value unless the assessing authority records reasons and identifies a lawful basis for doing so. The valuation scheme under section 14 of the Customs Act and the Customs Valuation Rules requires assessment on transaction value unless rejection is justified on permissible grounds; a vague reference to an unspecified international market value is insufficient. An enhancement made without reliable material or compliance with the statutory valuation framework is unsustainable, and the appeal succeeded. Case-Laws Customs Mon, 02 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1980