https://www.taxtmi.com/caselaws?id=356945 CESTAT Chennai held that the declared transaction value of imported wines was unreliable because the invoice terms, pricing details and payment terms showed discrepancies. As no contemporaneous import of similar goods from Spain was available, the similar-goods method was inapplicable. The authorities were therefore entitled to proceed to deductive valuation under the Customs Valuation Rules, 2007, taking tax neutralisation into account. The Commissioner (Appeals) had set aside the revised assessable value without adequate basis, so the rejection of the declared value and enhancement of assessable value were upheld and the Revenue's challenge succeeded. en-us Thu, 07 Dec 2017 00:00:00 +0530 Thu, 15 Mar 2018 10:01:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356945 CESTAT Chennai held that the declared transaction value of imported wines was unreliable because the invoice terms, pricing details and payment terms showed discrepancies. As no contemporaneous import of similar goods from Spain was available, the similar-goods method was inapplicable. The authorities were therefore entitled to proceed to deductive valuation under the Customs Valuation Rules, 2007, taking tax neutralisation into account. The Commissioner (Appeals) had set aside the revised assessable value without adequate basis, so the rejection of the declared value and enhancement of assessable value were upheld and the Revenue's challenge succeeded. Case-Laws Customs Thu, 07 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356945