https://www.taxtmi.com/caselaws?id=444141 Declared transaction value in customs assessment can be displaced only on cogent proof that the invoice price is incorrect. Unattested photocopies of foreign export declarations and retracted statements, without corroboration, were insufficient to establish undervaluation or support enhancement of the assessable value. The department was required to rely on reliable evidence, ordinarily including comparable contemporaneous imports, and to proceed through the prescribed sequential valuation rules before invoking the residual method. As that burden was not discharged, the enhancement of value failed and the consequential penalties could not be sustained. en-us Fri, 06 Oct 2023 00:00:00 +0530 Sat, 25 Jan 2025 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444141 Declared transaction value in customs assessment can be displaced only on cogent proof that the invoice price is incorrect. Unattested photocopies of foreign export declarations and retracted statements, without corroboration, were insufficient to establish undervaluation or support enhancement of the assessable value. The department was required to rely on reliable evidence, ordinarily including comparable contemporaneous imports, and to proceed through the prescribed sequential valuation rules before invoking the residual method. As that burden was not discharged, the enhancement of value failed and the consequential penalties could not be sustained. Case-Laws Customs Fri, 06 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444141