https://www.taxtmi.com/caselaws?id=438747 Revised vessel valuation based on a re-negotiated contract was not accepted on the existing record because the evidence on the alleged defects, removal of spare parts and accessories, delivery delay, and fall in international market prices had not been properly examined. The genuineness of the re-negotiation and the consistency of the revised price with the original agreement, including the inspection terms in Indian waters, required fuller scrutiny. Since the factual basis for accepting or rejecting the revised transaction value was insufficiently analysed, the appellate order was set aside and the matter was remanded to the Commissioner (Appeals) for fresh consideration of valuation and the contract evidence. en-us Thu, 01 Jun 2023 00:00:00 +0530 Thu, 08 Jun 2023 09:08:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438747 Revised vessel valuation based on a re-negotiated contract was not accepted on the existing record because the evidence on the alleged defects, removal of spare parts and accessories, delivery delay, and fall in international market prices had not been properly examined. The genuineness of the re-negotiation and the consistency of the revised price with the original agreement, including the inspection terms in Indian waters, required fuller scrutiny. Since the factual basis for accepting or rejecting the revised transaction value was insufficiently analysed, the appellate order was set aside and the matter was remanded to the Commissioner (Appeals) for fresh consideration of valuation and the contract evidence. Case-Laws Customs Thu, 01 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438747