https://www.taxtmi.com/caselaws?id=395857 Declared customs transaction value of imported bitumen 60/70 could not be rejected merely because some contemporaneous imports showed higher prices. The valuation framework required a proper legal basis for discarding the transaction value, and the show cause notice did not establish one. The record showed several imports of identical goods from the same country had been accepted at a lower contemporaneous value, while enhancement relied only on a few higher-priced consignments at another port. In these circumstances, the lower accepted value of identical goods governed valuation, and rejection of the declared value with consequent enhancement of assessable value was unsustainable. en-us Wed, 10 Jun 2020 00:00:00 +0530 Fri, 28 May 2021 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395857 Declared customs transaction value of imported bitumen 60/70 could not be rejected merely because some contemporaneous imports showed higher prices. The valuation framework required a proper legal basis for discarding the transaction value, and the show cause notice did not establish one. The record showed several imports of identical goods from the same country had been accepted at a lower contemporaneous value, while enhancement relied only on a few higher-priced consignments at another port. In these circumstances, the lower accepted value of identical goods governed valuation, and rejection of the declared value with consequent enhancement of assessable value was unsustainable. Case-Laws Customs Wed, 10 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395857