https://www.taxtmi.com/caselaws?id=362478 The Tribunal upheld the Commissioner (Appeals)' decision to set aside the enhancement of the value of imported fabric. It was held that in the absence of rejection of the transaction value initially, subsequent Customs Valuation Rules could not be applied to re-determine the value. The Tribunal emphasized that transaction value is the basis for assessment unless proven incorrect or influenced by external factors. As the Revenue did not reject the transaction value initially, their appeal was dismissed, and the Stay Petition was disposed of. en-us Tue, 22 May 2018 00:00:00 +0530 Tue, 26 Jun 2018 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362478 The Tribunal upheld the Commissioner (Appeals)' decision to set aside the enhancement of the value of imported fabric. It was held that in the absence of rejection of the transaction value initially, subsequent Customs Valuation Rules could not be applied to re-determine the value. The Tribunal emphasized that transaction value is the basis for assessment unless proven incorrect or influenced by external factors. As the Revenue did not reject the transaction value initially, their appeal was dismissed, and the Stay Petition was disposed of. Case-Laws Customs Tue, 22 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362478