https://www.taxtmi.com/caselaws?id=33919 Declared transaction value under customs law remains the basis of assessment where buyer and seller are unrelated and price is the sole consideration. Rule 12 permits rejection only on objective grounds, after inquiry, if the proper officer still has reasonable doubt about the truth or accuracy of the declared value. Contemporaneous imports at higher values, by themselves, do not prove under-valuation or justify enhancement, especially when those higher values are themselves disputed. The declared invoice price must be rejected only on cogent material showing it is not genuine; absent that proof, assessment must proceed on the declared transaction value. en-us Mon, 18 Aug 2008 00:00:00 +0530 Mon, 22 Jun 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33919 Declared transaction value under customs law remains the basis of assessment where buyer and seller are unrelated and price is the sole consideration. Rule 12 permits rejection only on objective grounds, after inquiry, if the proper officer still has reasonable doubt about the truth or accuracy of the declared value. Contemporaneous imports at higher values, by themselves, do not prove under-valuation or justify enhancement, especially when those higher values are themselves disputed. The declared invoice price must be rejected only on cogent material showing it is not genuine; absent that proof, assessment must proceed on the declared transaction value. Case-Laws Customs Mon, 18 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33919