https://www.taxtmi.com/caselaws?id=369292 Declared transaction value under Section 14 of the Customs Act and Rules 3 and 12 of the Customs Valuation Rules, 2007 can be rejected in related-party imports only where the proper officer has cogent reasons supported by evidence to doubt its truth or accuracy. Detailed disclosures, agreements, costing data, financial statements and supporting documents were furnished, and the rules did not require mandatory comparison with NIDB data. In the absence of objective evidence that the relationship affected price, mere suspicion or lack of NIDB comparison was insufficient, so rejection of the declared value was unsustainable. en-us Wed, 12 Sep 2018 00:00:00 +0530 Wed, 24 Oct 2018 09:13:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369292 Declared transaction value under Section 14 of the Customs Act and Rules 3 and 12 of the Customs Valuation Rules, 2007 can be rejected in related-party imports only where the proper officer has cogent reasons supported by evidence to doubt its truth or accuracy. Detailed disclosures, agreements, costing data, financial statements and supporting documents were furnished, and the rules did not require mandatory comparison with NIDB data. In the absence of objective evidence that the relationship affected price, mere suspicion or lack of NIDB comparison was insufficient, so rejection of the declared value was unsustainable. Case-Laws Customs Wed, 12 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369292