https://www.taxtmi.com/caselaws?id=342584 Declared transaction value may be rejected only on the basis of authentic material and the valuation rules must then be applied sequentially, but the proper officer must record a speaking order explaining why the declared value is rejected and how the re-determined value is arrived at. Where the record contains only assessed bills of entry and no recorded reasons or basis for enhancement, the valuation adjustment cannot be sustained on appellate scrutiny. On the facts discussed, the enhancement of assessable value was not upheld and the Revenue's challenge failed. en-us Fri, 07 Apr 2017 00:00:00 +0530 Fri, 09 Feb 2018 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342584 Declared transaction value may be rejected only on the basis of authentic material and the valuation rules must then be applied sequentially, but the proper officer must record a speaking order explaining why the declared value is rejected and how the re-determined value is arrived at. Where the record contains only assessed bills of entry and no recorded reasons or basis for enhancement, the valuation adjustment cannot be sustained on appellate scrutiny. On the facts discussed, the enhancement of assessable value was not upheld and the Revenue's challenge failed. Case-Laws Customs Fri, 07 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342584