https://www.taxtmi.com/caselaws?id=359885 The Tribunal set aside the confiscation of goods and penalties imposed on the appellant in a case involving the rejection of declared transaction value for export goods. It emphasized that market values should not be the sole basis for such rejections, citing precedents where market enquiries were deemed insufficient. The decision highlighted that while doubts were raised about the declared value, it was not enough to solely rely on market values for redetermination. The appeal was allowed based on established principles, emphasizing the importance of considering various factors beyond market prices in export valuation cases. en-us Tue, 17 Apr 2018 00:00:00 +0530 Sat, 05 May 2018 08:43:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359885 The Tribunal set aside the confiscation of goods and penalties imposed on the appellant in a case involving the rejection of declared transaction value for export goods. It emphasized that market values should not be the sole basis for such rejections, citing precedents where market enquiries were deemed insufficient. The decision highlighted that while doubts were raised about the declared value, it was not enough to solely rely on market values for redetermination. The appeal was allowed based on established principles, emphasizing the importance of considering various factors beyond market prices in export valuation cases. Case-Laws Customs Tue, 17 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359885