https://www.taxtmi.com/caselaws?id=443485 Declared transaction value of imported PU belts cannot be rejected merely on NIDB data, a departmental circular, or an unsupported market survey. The Tribunal found no reliable contemporaneous imports of identical or similar goods at a higher price and no properly supported market enquiry disclosed to the importer, so the invoice value remained acceptable under the valuation framework. Following its earlier decisions on the same product and period, it held that enhancement of value was not sustainable. The consequential reassessment, demand, and penalty also could not stand on the material placed by the department. en-us Fri, 22 Sep 2023 00:00:00 +0530 Tue, 23 Apr 2024 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443485 Declared transaction value of imported PU belts cannot be rejected merely on NIDB data, a departmental circular, or an unsupported market survey. The Tribunal found no reliable contemporaneous imports of identical or similar goods at a higher price and no properly supported market enquiry disclosed to the importer, so the invoice value remained acceptable under the valuation framework. Following its earlier decisions on the same product and period, it held that enhancement of value was not sustainable. The consequential reassessment, demand, and penalty also could not stand on the material placed by the department. Case-Laws Customs Fri, 22 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443485