https://www.taxtmi.com/caselaws?id=1998 Declared transaction value under the customs valuation regime cannot be rejected unless the statutory conditions for discard are satisfied and legally sustainable reasons are recorded. In this matter, the invoice value of imported swimming goggles was accepted because no valid reasons were recorded to treat it as unacceptable, and the market inquiry was found unreliable: identical goods were not shown to be available, comparison was made with Chinese-origin items despite Taiwan origin imports, and no basis was explained for converting retail prices into CIF value. The enhancement of assessable value was therefore unjustified and the declared transaction value was required to be accepted. en-us Mon, 12 Feb 2007 00:00:00 +0530 Tue, 15 Apr 2008 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1998 Declared transaction value under the customs valuation regime cannot be rejected unless the statutory conditions for discard are satisfied and legally sustainable reasons are recorded. In this matter, the invoice value of imported swimming goggles was accepted because no valid reasons were recorded to treat it as unacceptable, and the market inquiry was found unreliable: identical goods were not shown to be available, comparison was made with Chinese-origin items despite Taiwan origin imports, and no basis was explained for converting retail prices into CIF value. The enhancement of assessable value was therefore unjustified and the declared transaction value was required to be accepted. Case-Laws Customs Mon, 12 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1998