https://www.taxtmi.com/caselaws?id=349418 Declared transaction value of imported goods cannot be rejected and enhanced merely on the basis of market enquiry or NIDB data unless the department first establishes valid grounds for rejection and follows the prescribed valuation sequence for redetermination. The declared invoice value here was not shown to be unsupported by evidence or otherwise non-genuine, and the reliance placed on a retracted statement together with NIDB data was held to be an improper basis for fixing assessable value. The enhancement was therefore unsustainable, and the order sustaining it was set aside, with complete relief granted against the valuation enhancement and consequential demand and penalty. en-us Tue, 08 Aug 2017 00:00:00 +0530 Mon, 30 Apr 2018 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349418 Declared transaction value of imported goods cannot be rejected and enhanced merely on the basis of market enquiry or NIDB data unless the department first establishes valid grounds for rejection and follows the prescribed valuation sequence for redetermination. The declared invoice value here was not shown to be unsupported by evidence or otherwise non-genuine, and the reliance placed on a retracted statement together with NIDB data was held to be an improper basis for fixing assessable value. The enhancement was therefore unsustainable, and the order sustaining it was set aside, with complete relief granted against the valuation enhancement and consequential demand and penalty. Case-Laws Customs Tue, 08 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349418