https://www.taxtmi.com/caselaws?id=432133 Declared FOB value of export goods cannot be rejected on market enquiry alone unless the proper officer first records cogent reasons for doubting its correctness and then redetermines value in the prescribed manner. The required sequence under the export valuation regime is to examine the declared value first, identify independent material justifying doubt, and only then proceed to valuation reassessment. A mere discrepancy between the declared value and market enquiry result is not enough by itself to sustain rejection where no separate basis for doubt is shown. On that footing, the rejection and redetermination were held unsustainable. en-us Fri, 16 Dec 2022 00:00:00 +0530 Wed, 28 Dec 2022 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432133 Declared FOB value of export goods cannot be rejected on market enquiry alone unless the proper officer first records cogent reasons for doubting its correctness and then redetermines value in the prescribed manner. The required sequence under the export valuation regime is to examine the declared value first, identify independent material justifying doubt, and only then proceed to valuation reassessment. A mere discrepancy between the declared value and market enquiry result is not enough by itself to sustain rejection where no separate basis for doubt is shown. On that footing, the rejection and redetermination were held unsustainable. Case-Laws Customs Fri, 16 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432133