https://www.taxtmi.com/caselaws?id=30872 For a used imported car, the declared invoice price must be accepted as transaction value where the invoice is genuine and there is no allegation of suppression or misdeclaration. The customs authorities could not discard the declared value under Rule 4(2) of the Customs Valuation Rules, 1988, and had no basis to invoke Rule 8 or adopt a best judgment valuation from Parker's Car Guide. The valuation based only on a different model's guide price was therefore not sustainable on the facts. en-us Tue, 17 Jun 2008 00:00:00 +0530 Wed, 01 Oct 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30872 For a used imported car, the declared invoice price must be accepted as transaction value where the invoice is genuine and there is no allegation of suppression or misdeclaration. The customs authorities could not discard the declared value under Rule 4(2) of the Customs Valuation Rules, 1988, and had no basis to invoke Rule 8 or adopt a best judgment valuation from Parker's Car Guide. The valuation based only on a different model's guide price was therefore not sustainable on the facts. Case-Laws Customs Tue, 17 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30872