https://www.taxtmi.com/caselaws?id=363987 Declared transaction value for imported zinc plates could not be rejected merely by reference to London Metal Exchange quotations, because the imported goods had materially lower purity and were therefore not comparable with the benchmark zinc price. The test report showed purity of about 87.2% to 88.3%, while the quoted LME price related to 99.9% purity zinc. In the absence of contemporaneous imports or other corroborative evidence, the Revenue had no basis to discard the declared value or enhance assessable value. The Tribunal set aside the valuation rejection and accepted the assessee's declared transaction value. en-us Wed, 14 Mar 2018 00:00:00 +0530 Sat, 21 Jul 2018 09:37:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363987 Declared transaction value for imported zinc plates could not be rejected merely by reference to London Metal Exchange quotations, because the imported goods had materially lower purity and were therefore not comparable with the benchmark zinc price. The test report showed purity of about 87.2% to 88.3%, while the quoted LME price related to 99.9% purity zinc. In the absence of contemporaneous imports or other corroborative evidence, the Revenue had no basis to discard the declared value or enhance assessable value. The Tribunal set aside the valuation rejection and accepted the assessee's declared transaction value. Case-Laws Customs Wed, 14 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363987