https://www.taxtmi.com/caselaws?id=338488 Declared export value for garments could not be discarded on the basis of unreliable domestic market enquiries and statements alleging overvaluation. The enquiries were conducted without the exporter or CHA, lacked precise descriptions of the goods, and were not a fair comparison for valuation. Domestic market price may be relevant only to restrict drawback or DEPB benefits under Section 76 of the Customs Act, 1962, but it cannot by itself determine FOB value of export goods. As the record did not show non-realisation of sale proceeds or any credible basis to treat the export value as false, the consequential confiscation, drawback recovery and penalties were not sustainable. en-us Tue, 27 Dec 2016 00:00:00 +0530 Fri, 09 Feb 2018 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338488 Declared export value for garments could not be discarded on the basis of unreliable domestic market enquiries and statements alleging overvaluation. The enquiries were conducted without the exporter or CHA, lacked precise descriptions of the goods, and were not a fair comparison for valuation. Domestic market price may be relevant only to restrict drawback or DEPB benefits under Section 76 of the Customs Act, 1962, but it cannot by itself determine FOB value of export goods. As the record did not show non-realisation of sale proceeds or any credible basis to treat the export value as false, the consequential confiscation, drawback recovery and penalties were not sustainable. Case-Laws Customs Tue, 27 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338488