https://www.taxtmi.com/caselaws?id=32401 Declared import value of optical frames cannot be rejected and enhanced merely on a retracted Section 108 statement and an undisclosed market enquiry. Valuation under Rule 7 of the Customs Valuation Rules requires cogent, verifiable evidence, including disclosed enquiry material, a clear working of the enhanced CIF value, and a reliable comparison with identical or similar goods. Where the Revenue withholds the enquiry report and fails to explain why comparable import documents were disregarded, enhancement is not sustainable. On that basis, the declared value was restored and the importer's valuation was upheld. en-us Mon, 18 Aug 2008 00:00:00 +0530 Fri, 13 Feb 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32401 Declared import value of optical frames cannot be rejected and enhanced merely on a retracted Section 108 statement and an undisclosed market enquiry. Valuation under Rule 7 of the Customs Valuation Rules requires cogent, verifiable evidence, including disclosed enquiry material, a clear working of the enhanced CIF value, and a reliable comparison with identical or similar goods. Where the Revenue withholds the enquiry report and fails to explain why comparable import documents were disregarded, enhancement is not sustainable. On that basis, the declared value was restored and the importer's valuation was upheld. Case-Laws Customs Mon, 18 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32401