https://www.taxtmi.com/caselaws?id=354999 Under Section 14 of the Customs Act, 1962 read with the Customs Valuation Rules, 2007, the declared transaction value of imported goods may be rejected under Rule 12 where recovered invoices and admissions show under-valuation. In this matter, invoices found on electronic devices matched the imported goods, reflected higher prices than those declared, and were corroborated by the importer's representative's statements admitting the true value and differential payments through non-banking channels. The objection under Section 138C to the use of those documents failed because their truth was admitted and no reliable contrary evidence was produced. The assessable value was therefore re-determined and the consequential customs duty, penalty and confiscation-related action were sustained. en-us Mon, 05 Feb 2018 00:00:00 +0530 Mon, 12 Nov 2018 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354999 Under Section 14 of the Customs Act, 1962 read with the Customs Valuation Rules, 2007, the declared transaction value of imported goods may be rejected under Rule 12 where recovered invoices and admissions show under-valuation. In this matter, invoices found on electronic devices matched the imported goods, reflected higher prices than those declared, and were corroborated by the importer's representative's statements admitting the true value and differential payments through non-banking channels. The objection under Section 138C to the use of those documents failed because their truth was admitted and no reliable contrary evidence was produced. The assessable value was therefore re-determined and the consequential customs duty, penalty and confiscation-related action were sustained. Case-Laws Customs Mon, 05 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354999