https://www.taxtmi.com/caselaws?id=395910 The Tribunal ruled in favor of the appellants, finding that the relationship between the parties did not influence the transaction value of imported goods, which was determined based on prevailing international prices. The Tribunal accepted the appellants' evidence showing consistency in paying duties according to international market rates at the time of the contract. It concluded that the Revenue's reliance on contemporaneous imports to adjust the transaction value was not justified, setting aside the Revenue's decision and accepting the declared transaction value. en-us Thu, 11 Jun 2020 00:00:00 +0530 Sat, 13 Jun 2020 11:15:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395910 The Tribunal ruled in favor of the appellants, finding that the relationship between the parties did not influence the transaction value of imported goods, which was determined based on prevailing international prices. The Tribunal accepted the appellants' evidence showing consistency in paying duties according to international market rates at the time of the contract. It concluded that the Revenue's reliance on contemporaneous imports to adjust the transaction value was not justified, setting aside the Revenue's decision and accepting the declared transaction value. Case-Laws Customs Thu, 11 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395910