https://www.taxtmi.com/caselaws?id=336384 Declared import value under section 14 of the Customs Act, 1962 could not be rejected merely because one director was common to the importer and the foreign supplier. The tribunal held that common directorship alone does not prove the parties were related in a manner that influenced price, and the revenue must produce reliable evidence of under-valuation, contemporaneous higher-priced imports, suppression, or other price influence before enhancing value. As no such material was shown, the 100% loading and enhancement of assessable value were set aside, with consequential relief to the importer. en-us Fri, 02 Dec 2016 00:00:00 +0530 Wed, 21 Dec 2016 09:38:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336384 Declared import value under section 14 of the Customs Act, 1962 could not be rejected merely because one director was common to the importer and the foreign supplier. The tribunal held that common directorship alone does not prove the parties were related in a manner that influenced price, and the revenue must produce reliable evidence of under-valuation, contemporaneous higher-priced imports, suppression, or other price influence before enhancing value. As no such material was shown, the 100% loading and enhancement of assessable value were set aside, with consequential relief to the importer. Case-Laws Customs Fri, 02 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336384