https://www.taxtmi.com/caselaws?id=442178 Declared transaction value under the Customs Valuation Rules could not be rejected merely on the basis of contemporaneous import data. The proper officer had to examine the importer's documents, seek clarification where necessary, and record valid reasons for doubting and discarding the invoices and supporting materials before invoking Rule 12. Because no adequate reasons were recorded for rejecting the declared value, reliance on NIDB or similar data alone was insufficient to substitute an assessable value. The rejection of transaction value was therefore held unsustainable and the assessee's appeals succeeded. en-us Fri, 07 Jul 2023 00:00:00 +0530 Sat, 26 Aug 2023 08:21:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442178 Declared transaction value under the Customs Valuation Rules could not be rejected merely on the basis of contemporaneous import data. The proper officer had to examine the importer's documents, seek clarification where necessary, and record valid reasons for doubting and discarding the invoices and supporting materials before invoking Rule 12. Because no adequate reasons were recorded for rejecting the declared value, reliance on NIDB or similar data alone was insufficient to substitute an assessable value. The rejection of transaction value was therefore held unsustainable and the assessee's appeals succeeded. Case-Laws Customs Fri, 07 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442178