https://www.taxtmi.com/caselaws?id=380424 SC held that rejection of declared transaction value under Section 14 and Rule 12 requires the proper officer to form a reasonable belief, record cogent reasons, and, when required, communicate such reasons in writing to the importer; this mandate is mandatory and cannot be bypassed. In cases of valuation dispute, authorities should resort to provisional assessment under Section 18, subject to statutory conditions. The adjudication order was found flawed for absence of valid reasons for rejecting declared value and improper reliance on external price data without proper enquiry into identical or similar goods. The appeal was allowed in favour of the importer, with the ruling applied prospectively. en-us Fri, 17 May 2019 00:00:00 +0530 Mon, 15 Dec 2025 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380424 SC held that rejection of declared transaction value under Section 14 and Rule 12 requires the proper officer to form a reasonable belief, record cogent reasons, and, when required, communicate such reasons in writing to the importer; this mandate is mandatory and cannot be bypassed. In cases of valuation dispute, authorities should resort to provisional assessment under Section 18, subject to statutory conditions. The adjudication order was found flawed for absence of valid reasons for rejecting declared value and improper reliance on external price data without proper enquiry into identical or similar goods. The appeal was allowed in favour of the importer, with the ruling applied prospectively. Case-Laws Customs Fri, 17 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380424