https://www.taxtmi.com/caselaws?id=419832 Under Section 14 of the Customs Act and the Customs Valuation Rules, the declared transaction value is to be accepted as the assessable value unless revenue produces contemporaneous and credible material showing that the invoice price is not genuine. A mere reliance on London Metal Bulletin prices, without evidence of higher contemporaneous imports or other reliable material, is insufficient to reject the declared value. Where comparable imports from the same supplier were assessed at lower values, the attempted enhancement of assessable value was unsustainable. en-us Tue, 01 Mar 2022 00:00:00 +0530 Wed, 15 Feb 2023 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419832 Under Section 14 of the Customs Act and the Customs Valuation Rules, the declared transaction value is to be accepted as the assessable value unless revenue produces contemporaneous and credible material showing that the invoice price is not genuine. A mere reliance on London Metal Bulletin prices, without evidence of higher contemporaneous imports or other reliable material, is insufficient to reject the declared value. Where comparable imports from the same supplier were assessed at lower values, the attempted enhancement of assessable value was unsustainable. Case-Laws Customs Tue, 01 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419832