https://www.taxtmi.com/caselaws?id=370026 Imported ball bearings could not have their declared transaction value enhanced merely because of a customs circular or DRI alerts. The valuation mechanism under the Customs Act, 1962 and the Customs Valuation Rules required rejection of the transaction value on legally sustainable grounds, supported by reliable evidence, before any substitution was made. Prior assessments or benchmark figures for similar consignments were not enough by themselves to displace the declared value. The enhancement of value was therefore not sustainable on the materials described. en-us Wed, 29 Aug 2018 00:00:00 +0530 Tue, 06 Nov 2018 16:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370026 Imported ball bearings could not have their declared transaction value enhanced merely because of a customs circular or DRI alerts. The valuation mechanism under the Customs Act, 1962 and the Customs Valuation Rules required rejection of the transaction value on legally sustainable grounds, supported by reliable evidence, before any substitution was made. Prior assessments or benchmark figures for similar consignments were not enough by themselves to displace the declared value. The enhancement of value was therefore not sustainable on the materials described. Case-Laws Customs Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370026