https://www.taxtmi.com/caselaws?id=32242 In an undervaluation dispute, the department must prove a higher assessable value with reliable evidence, such as contemporaneous comparable imports or trustworthy corroboration, before rejecting the declared transaction value. Unattested foreign export declarations, especially where corrected declarations were later accepted by the foreign customs authorities and no inquiry was made with them, were held insufficient to justify value enhancement. Retracted statements, without independent corroboration, also could not sustain the allegation of undervaluation. Contemporaneous import invoices produced by the importer supported the declared value. On that basis, the enhancement of assessable value was not sustainable, and the consequent confiscation and penalties based on that enhancement also failed. en-us Fri, 27 Jun 2008 00:00:00 +0530 Fri, 30 Jan 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32242 In an undervaluation dispute, the department must prove a higher assessable value with reliable evidence, such as contemporaneous comparable imports or trustworthy corroboration, before rejecting the declared transaction value. Unattested foreign export declarations, especially where corrected declarations were later accepted by the foreign customs authorities and no inquiry was made with them, were held insufficient to justify value enhancement. Retracted statements, without independent corroboration, also could not sustain the allegation of undervaluation. Contemporaneous import invoices produced by the importer supported the declared value. On that basis, the enhancement of assessable value was not sustainable, and the consequent confiscation and penalties based on that enhancement also failed. Case-Laws Customs Fri, 27 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32242