https://www.taxtmi.com/caselaws?id=348385 Declared transaction value for imported goods cannot be rejected merely because contemporaneous imports or NIDB data indicate a higher figure. Where the importer supports the declared value with invoices, purchase orders and contracts, the department must show valid reasons and undertake a proper comparison of identical or similar goods in a comparable commercial transaction before invoking Rule 12 and revaluing under Section 14 and the Valuation Rules. Loosely comparable imports, without clear evidence of quantity, period or contractual similarity, are insufficient. On that basis, the enhanced assessable value was held unsustainable. en-us Thu, 24 Aug 2017 00:00:00 +0530 Mon, 12 Feb 2018 17:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348385 Declared transaction value for imported goods cannot be rejected merely because contemporaneous imports or NIDB data indicate a higher figure. Where the importer supports the declared value with invoices, purchase orders and contracts, the department must show valid reasons and undertake a proper comparison of identical or similar goods in a comparable commercial transaction before invoking Rule 12 and revaluing under Section 14 and the Valuation Rules. Loosely comparable imports, without clear evidence of quantity, period or contractual similarity, are insufficient. On that basis, the enhanced assessable value was held unsustainable. Case-Laws Customs Thu, 24 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348385