https://www.taxtmi.com/caselaws?id=371623 Customs valuation of imported PU belts cannot be enhanced merely on the basis of an administrative circular, unverified NIDB data, or an unsupported market enquiry. Rejection of transaction value requires cogent evidence showing that the declared price is unacceptable, such as contemporaneous imports of like goods with comparable quality, quantity, and origin, or a properly conducted and disclosed market enquiry. Here, no comparable bill of entry was produced, the data relied on was not shown to relate to identical goods, and no credible enquiry report or proof of extra payment was established. The declared value therefore could not be displaced, and the re-determination, with consequential confiscation, duty demand, interest, and penalty, was set aside. en-us Tue, 04 Dec 2018 00:00:00 +0530 Fri, 07 Dec 2018 06:53:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371623 Customs valuation of imported PU belts cannot be enhanced merely on the basis of an administrative circular, unverified NIDB data, or an unsupported market enquiry. Rejection of transaction value requires cogent evidence showing that the declared price is unacceptable, such as contemporaneous imports of like goods with comparable quality, quantity, and origin, or a properly conducted and disclosed market enquiry. Here, no comparable bill of entry was produced, the data relied on was not shown to relate to identical goods, and no credible enquiry report or proof of extra payment was established. The declared value therefore could not be displaced, and the re-determination, with consequential confiscation, duty demand, interest, and penalty, was set aside. Case-Laws Customs Tue, 04 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371623