https://www.taxtmi.com/caselaws?id=334154 The court set aside the customs authorities' decision to enhance the declared price of imported goods, emphasizing the need to reject declared value with valid reasons before applying valuation rules. The court ruled in favor of the importer, stating that the contract price based on the London Metal Exchange price prevailing on the date of shipment should have been accepted. The court highlighted the importance of following the sequential application of valuation rules and ensuring legal compliance in customs assessments. en-us Wed, 31 Aug 2016 00:00:00 +0530 Sat, 05 Nov 2016 06:38:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334154 The court set aside the customs authorities' decision to enhance the declared price of imported goods, emphasizing the need to reject declared value with valid reasons before applying valuation rules. The court ruled in favor of the importer, stating that the contract price based on the London Metal Exchange price prevailing on the date of shipment should have been accepted. The court highlighted the importance of following the sequential application of valuation rules and ensuring legal compliance in customs assessments. Case-Laws Customs Wed, 31 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334154