https://www.taxtmi.com/caselaws?id=351561 Transaction value under Section 14 of the Customs Act, 1962 cannot be rejected merely because declared prices fluctuate or because contemporaneous imports through another port suggest a higher value. Reassessment under Rule 8 of the Customs Valuation Rules, 1988 requires reliable and relevant comparable material, including particulars of the goods, branding, contractual terms, payment structure, and whether the comparable assessments were themselves enhanced. Where such details are not disclosed to the importer and the foundation for comparison is incomplete, rejection of transaction value is not justified. On these facts, the reassessment was held unsustainable, with the differential duty and consequential penalty not surviving. en-us Wed, 06 Sep 2017 00:00:00 +0530 Tue, 28 Nov 2017 07:37:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351561 Transaction value under Section 14 of the Customs Act, 1962 cannot be rejected merely because declared prices fluctuate or because contemporaneous imports through another port suggest a higher value. Reassessment under Rule 8 of the Customs Valuation Rules, 1988 requires reliable and relevant comparable material, including particulars of the goods, branding, contractual terms, payment structure, and whether the comparable assessments were themselves enhanced. Where such details are not disclosed to the importer and the foundation for comparison is incomplete, rejection of transaction value is not justified. On these facts, the reassessment was held unsustainable, with the differential duty and consequential penalty not surviving. Case-Laws Customs Wed, 06 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351561