https://www.taxtmi.com/caselaws?id=340612 Valuation of imported goods in a related-party transaction must follow the prescribed Customs Valuation Rules and be supported by reasons and evidence. An arbitrary 50% enhancement of declared value, made without identifying the applicable valuation rule or explaining the basis for the increase, was found unsustainable. The importer had produced material on pricing and comparable imports, and those factual findings were not seriously disputed. The order setting aside the enhancement of assessable value was therefore sustained, and the Revenue's challenge failed. en-us Tue, 07 Feb 2017 00:00:00 +0530 Fri, 24 Mar 2017 07:16:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340612 Valuation of imported goods in a related-party transaction must follow the prescribed Customs Valuation Rules and be supported by reasons and evidence. An arbitrary 50% enhancement of declared value, made without identifying the applicable valuation rule or explaining the basis for the increase, was found unsustainable. The importer had produced material on pricing and comparable imports, and those factual findings were not seriously disputed. The order setting aside the enhancement of assessable value was therefore sustained, and the Revenue's challenge failed. Case-Laws Customs Tue, 07 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340612