https://www.taxtmi.com/caselaws?id=306025 Transaction value under customs valuation cannot be rejected merely because the buyer and seller are alleged to be related; the revenue must show with evidence that the relationship influenced the price or that the declared value is otherwise untrue. On the facts discussed, the declared import value of urea was accepted because no material established suppression or price influence, making revaluation unsustainable. The extended limitation period also cannot be invoked without material showing suppression, misdeclaration, or similar circumstances justifying larger-period demand; absent such foundation, the demand is time-barred. en-us Mon, 09 Dec 2019 00:00:00 +0530 Fri, 06 Jan 2023 09:31:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306025 Transaction value under customs valuation cannot be rejected merely because the buyer and seller are alleged to be related; the revenue must show with evidence that the relationship influenced the price or that the declared value is otherwise untrue. On the facts discussed, the declared import value of urea was accepted because no material established suppression or price influence, making revaluation unsustainable. The extended limitation period also cannot be invoked without material showing suppression, misdeclaration, or similar circumstances justifying larger-period demand; absent such foundation, the demand is time-barred. Case-Laws Customs Mon, 09 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306025