https://www.taxtmi.com/caselaws?id=437809 Declared transaction value of imported goods could not be rejected because the department relied on the export price of a different product and did not establish a lawful basis under the customs valuation rules to discard the contemporaneous import documents. The record showed the declared description and valuation were consistent, and the alleged related-party concern did not dislodge the long-standing transfer-pricing-based valuation. On that footing, misdeclaration was not proved, so the extended-period duty demand, confiscation, and penalties could not stand. The appeals succeeded and the impugned order was set aside. en-us Tue, 02 May 2023 00:00:00 +0530 Tue, 16 May 2023 08:32:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437809 Declared transaction value of imported goods could not be rejected because the department relied on the export price of a different product and did not establish a lawful basis under the customs valuation rules to discard the contemporaneous import documents. The record showed the declared description and valuation were consistent, and the alleged related-party concern did not dislodge the long-standing transfer-pricing-based valuation. On that footing, misdeclaration was not proved, so the extended-period duty demand, confiscation, and penalties could not stand. The appeals succeeded and the impugned order was set aside. Case-Laws Customs Tue, 02 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437809