https://www.taxtmi.com/caselaws?id=30377 Declared transaction value of imported goods cannot be rejected or enhanced without cogent evidence supporting departure from the declared price. On the facts noted, contemporaneous ship stores imports and overseas retail price lists were not treated as legally sufficient material to re-determine value, so the declared value was accepted. In the absence of established misdeclaration of value, the consequential confiscation under the Customs Act and the penalty could not survive, and both were set aside. en-us Fri, 28 Mar 2008 00:00:00 +0530 Mon, 25 Aug 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30377 Declared transaction value of imported goods cannot be rejected or enhanced without cogent evidence supporting departure from the declared price. On the facts noted, contemporaneous ship stores imports and overseas retail price lists were not treated as legally sufficient material to re-determine value, so the declared value was accepted. In the absence of established misdeclaration of value, the consequential confiscation under the Customs Act and the penalty could not survive, and both were set aside. Case-Laws Customs Fri, 28 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30377