https://www.taxtmi.com/caselaws?id=354667 Customs valuation ordinarily accepts transaction value where buyer and seller deal at arm's length, but a related-party transaction may still be accepted if the relationship did not influence price or if comparable values support the declaration. The text explains that a wholly owned subsidiary and its foreign supplier are related persons under the Customs Valuation Rules, 1988. It further notes that, where the importer could not show sales of identical or similar goods at the declared price and could not rebut the finding of price influence, the declared value may be rejected and re-determined by loading the assessable value by 10%. en-us Tue, 07 Nov 2017 00:00:00 +0530 Tue, 05 Mar 2019 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354667 Customs valuation ordinarily accepts transaction value where buyer and seller deal at arm's length, but a related-party transaction may still be accepted if the relationship did not influence price or if comparable values support the declaration. The text explains that a wholly owned subsidiary and its foreign supplier are related persons under the Customs Valuation Rules, 1988. It further notes that, where the importer could not show sales of identical or similar goods at the declared price and could not rebut the finding of price influence, the declared value may be rejected and re-determined by loading the assessable value by 10%. Case-Laws Customs Tue, 07 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354667