https://www.taxtmi.com/caselaws?id=344520 Where the declared invoice did not reflect a genuine transaction, the assessable value of the imported vehicle was re-determined by sequential application of the Customs Valuation Rules and resort to Rule 9 after excluding Rules 4 to 8. The appellate reasoning accepted that the invoice price could not be treated as the transaction value, and the re-determined value was upheld. On confiscation, absolute confiscation was set aside because redemption of the vehicle on payment of fine was considered justified on the facts, and the objection that re-export should have been ordered was rejected. The revenue appeal therefore failed, leaving the redemption and valuation findings undisturbed. en-us Tue, 10 Jan 2017 00:00:00 +0530 Tue, 20 Jun 2017 08:36:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344520 Where the declared invoice did not reflect a genuine transaction, the assessable value of the imported vehicle was re-determined by sequential application of the Customs Valuation Rules and resort to Rule 9 after excluding Rules 4 to 8. The appellate reasoning accepted that the invoice price could not be treated as the transaction value, and the re-determined value was upheld. On confiscation, absolute confiscation was set aside because redemption of the vehicle on payment of fine was considered justified on the facts, and the objection that re-export should have been ordered was rejected. The revenue appeal therefore failed, leaving the redemption and valuation findings undisturbed. Case-Laws Customs Tue, 10 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344520