https://www.taxtmi.com/caselaws?id=340147 Declared transaction value for domestic sales of copper and brass ingots could not be rejected without evidence of manipulated pricing, undervaluation, or comparable contemporaneous market data. London Metal Exchange quotations were not shown to be comparable to copper ingots made from scrap, so they could not be mechanically used to re-determine value. The tariff value fixed for imported brass scrap applied to customs duty on import and could not automatically be treated as the raw material cost or as a basis for valuing finished brass ingots. In the absence of proof that the sales were not at arm's length, rejection of the declared value was legally unsustainable and the declared transaction value was accepted. en-us Thu, 09 Feb 2017 00:00:00 +0530 Tue, 14 Nov 2017 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340147 Declared transaction value for domestic sales of copper and brass ingots could not be rejected without evidence of manipulated pricing, undervaluation, or comparable contemporaneous market data. London Metal Exchange quotations were not shown to be comparable to copper ingots made from scrap, so they could not be mechanically used to re-determine value. The tariff value fixed for imported brass scrap applied to customs duty on import and could not automatically be treated as the raw material cost or as a basis for valuing finished brass ingots. In the absence of proof that the sales were not at arm's length, rejection of the declared value was legally unsustainable and the declared transaction value was accepted. Case-Laws Central Excise Thu, 09 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340147