https://www.taxtmi.com/caselaws?id=384203 Declared transaction value for imported polyester knitted fabric cannot be rejected solely on selected contemporaneous import data unless the goods relied on are shown by evidence to be identical or similar and commercially comparable in quality, quantity and characteristics. Under Section 14(1) of the Customs Act and Rules 12 and 5 of the 2007 Valuation Rules, value enhancement requires a legally sustainable basis and a proper comparative exercise; mere reliance on bill of entry data is insufficient without independent evidence of undervaluation. The rejection of declared value and reassessment on that basis were not sustained, and the matter was remanded for fresh adjudication. en-us Tue, 06 Aug 2019 00:00:00 +0530 Wed, 08 Jan 2020 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384203 Declared transaction value for imported polyester knitted fabric cannot be rejected solely on selected contemporaneous import data unless the goods relied on are shown by evidence to be identical or similar and commercially comparable in quality, quantity and characteristics. Under Section 14(1) of the Customs Act and Rules 12 and 5 of the 2007 Valuation Rules, value enhancement requires a legally sustainable basis and a proper comparative exercise; mere reliance on bill of entry data is insufficient without independent evidence of undervaluation. The rejection of declared value and reassessment on that basis were not sustained, and the matter was remanded for fresh adjudication. Case-Laws Customs Tue, 06 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384203