https://www.taxtmi.com/caselaws?id=333498 Declared transaction value of imported cloves could not be rejected merely on NIDB data or generalized price information where the importer showed the goods were of a recognised market grade and matched the stated description. The Tribunal held that valuation must rest on comparable contemporaneous imports of the same origin, time, quantity and quality, and that imports of different origin or unsupported price references cannot justify reassessment. On that basis, the enhanced valuation lacked a proper legal foundation and the reassessment was not sustainable. en-us Thu, 04 Aug 2016 00:00:00 +0530 Sat, 15 Oct 2016 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333498 Declared transaction value of imported cloves could not be rejected merely on NIDB data or generalized price information where the importer showed the goods were of a recognised market grade and matched the stated description. The Tribunal held that valuation must rest on comparable contemporaneous imports of the same origin, time, quantity and quality, and that imports of different origin or unsupported price references cannot justify reassessment. On that basis, the enhanced valuation lacked a proper legal foundation and the reassessment was not sustainable. Case-Laws Customs Thu, 04 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333498