https://www.taxtmi.com/caselaws?id=351462 Declared customs value cannot be rejected and enhanced merely on generalized NIDB data or on descriptions of other models; such material was found insufficient to support enhancement under the Customs Valuation Rules, so the rejection and enhancement on that basis were set aside. Where valuation was based on contemporaneous imports, the highest comparable value could not be adopted; the correct approach was to use the lowest comparable value, and the matter was remanded for fresh determination on that basis. The result was partial success for the assessee, with major value enhancements annulled and limited items sent back for revaluation using the proper comparable-value standard. en-us Wed, 23 Aug 2017 00:00:00 +0530 Sat, 25 Nov 2017 08:06:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351462 Declared customs value cannot be rejected and enhanced merely on generalized NIDB data or on descriptions of other models; such material was found insufficient to support enhancement under the Customs Valuation Rules, so the rejection and enhancement on that basis were set aside. Where valuation was based on contemporaneous imports, the highest comparable value could not be adopted; the correct approach was to use the lowest comparable value, and the matter was remanded for fresh determination on that basis. The result was partial success for the assessee, with major value enhancements annulled and limited items sent back for revaluation using the proper comparable-value standard. Case-Laws Customs Wed, 23 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351462