https://www.taxtmi.com/caselaws?id=375632 The Tribunal upheld the rejection of the declared value of Styrene Monomer, emphasizing the importance of adhering to contract terms in import valuation. It found discrepancies in the negotiated price compared to prevailing market rates, suggesting a possible attempt at duty evasion during a period of falling crude oil prices. The Commissioner's observations were deemed valid, leading to the dismissal of the appellant's appeal. The judgment underscores the significance of transparent and consistent pricing agreements to prevent customs duty evasion. en-us Wed, 20 Feb 2019 00:00:00 +0530 Fri, 21 Feb 2020 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375632 The Tribunal upheld the rejection of the declared value of Styrene Monomer, emphasizing the importance of adhering to contract terms in import valuation. It found discrepancies in the negotiated price compared to prevailing market rates, suggesting a possible attempt at duty evasion during a period of falling crude oil prices. The Commissioner's observations were deemed valid, leading to the dismissal of the appellant's appeal. The judgment underscores the significance of transparent and consistent pricing agreements to prevent customs duty evasion. Case-Laws Customs Wed, 20 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375632