https://www.taxtmi.com/caselaws?id=437919 Customs valuation under Section 14 of the Customs Act, 1962 remains based on transaction value, subject to Rule 12 of the 2007 Valuation Rules where the proper officer may doubt the declared value and reject it on valid grounds. If the importer, after being shown contemporaneous import data, expressly accepts the enhanced value in writing and waives show cause notice, personal hearing, and even a speaking order, the declared value is treated as rejected by consent and sequential valuation under Rules 4 to 9 is unnecessary. Section 17(5) requires a speaking order only where reassessment is contrary to self-assessment and not accepted in writing. en-us Thu, 04 May 2023 00:00:00 +0530 Thu, 18 May 2023 08:37:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437919 Customs valuation under Section 14 of the Customs Act, 1962 remains based on transaction value, subject to Rule 12 of the 2007 Valuation Rules where the proper officer may doubt the declared value and reject it on valid grounds. If the importer, after being shown contemporaneous import data, expressly accepts the enhanced value in writing and waives show cause notice, personal hearing, and even a speaking order, the declared value is treated as rejected by consent and sequential valuation under Rules 4 to 9 is unnecessary. Section 17(5) requires a speaking order only where reassessment is contrary to self-assessment and not accepted in writing. Case-Laws Customs Thu, 04 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437919