https://www.taxtmi.com/caselaws?id=272195 In a distress auction of flood-damaged goods cleared from a Special Economic Zone to the Domestic Tariff Area, the realised auction price was accepted for customs assessment because the sale process was bona fide, conducted through tenders, and approved by the insurer. The Department could not show any defect in the auction or any substantive basis to discard the declared value. Earlier sales relied on for comparison were not truly comparable because the goods involved were differently damaged. On that basis, the auction realisation was treated as the appropriate assessable value, and re-determination under the Customs Valuation Rules, 1998 was held unsustainable. en-us Wed, 20 Jan 2016 00:00:00 +0530 Mon, 13 Feb 2017 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272195 In a distress auction of flood-damaged goods cleared from a Special Economic Zone to the Domestic Tariff Area, the realised auction price was accepted for customs assessment because the sale process was bona fide, conducted through tenders, and approved by the insurer. The Department could not show any defect in the auction or any substantive basis to discard the declared value. Earlier sales relied on for comparison were not truly comparable because the goods involved were differently damaged. On that basis, the auction realisation was treated as the appropriate assessable value, and re-determination under the Customs Valuation Rules, 1998 was held unsustainable. Case-Laws Customs Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272195