https://www.taxtmi.com/caselaws?id=390066 Declared transaction value cannot be rejected by comparing an importer's domestic selling price with a related supplier's price in India, because that comparison is not contemplated under the customs valuation rules. The adjudicating authority must follow the statutory hierarchy of valuation methods, rely on contemporaneous imports of identical goods where required, and quantify any alleged transport, storage, value-addition, sales or other permissible adjustments. A flat 30% loading without such basis is arbitrary and unsustainable. The declared value was therefore held to meet the requirements of the Customs Act and valuation framework, and the assessee's valuation was accepted. en-us Fri, 20 Dec 2019 00:00:00 +0530 Mon, 23 Dec 2019 12:38:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390066 Declared transaction value cannot be rejected by comparing an importer's domestic selling price with a related supplier's price in India, because that comparison is not contemplated under the customs valuation rules. The adjudicating authority must follow the statutory hierarchy of valuation methods, rely on contemporaneous imports of identical goods where required, and quantify any alleged transport, storage, value-addition, sales or other permissible adjustments. A flat 30% loading without such basis is arbitrary and unsustainable. The declared value was therefore held to meet the requirements of the Customs Act and valuation framework, and the assessee's valuation was accepted. Case-Laws Customs Fri, 20 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390066