https://www.taxtmi.com/caselaws?id=344720 Transaction value under the Customs valuation scheme could not be displaced merely on the basis of market enquiry or NIDB data. The text states that, under Section 14 of the Customs Act and the valuation rules, authorities must record valid rule-based reasons before rejecting the declared import value; no such reasons were shown here. Because the enhanced valuation lacked legal support, the consequential confiscation and penalties were also unsustainable. The appeal therefore succeeded and the impugned order was set aside with consequential relief. en-us Thu, 22 Jun 2017 00:00:00 +0530 Mon, 12 Feb 2018 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344720 Transaction value under the Customs valuation scheme could not be displaced merely on the basis of market enquiry or NIDB data. The text states that, under Section 14 of the Customs Act and the valuation rules, authorities must record valid rule-based reasons before rejecting the declared import value; no such reasons were shown here. Because the enhanced valuation lacked legal support, the consequential confiscation and penalties were also unsustainable. The appeal therefore succeeded and the impugned order was set aside with consequential relief. Case-Laws Customs Thu, 22 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344720