https://www.taxtmi.com/caselaws?id=444286 Declared import value under the Customs Valuation Rules, 2007 cannot be rejected solely because the importer, supplier and Government of India are alleged to be related persons. Rejection of transaction value requires evidence that the relationship influenced the price under the applicable deeming tests for relationship and the transaction value rule. On the record, no material showed flow-back, undervaluation, or any price influence from the relationship, and the burden to displace the declared value was not met. Earlier tribunal decisions on the same transaction structure also supported acceptance of the declared value, so the Department's challenge to the valuation failed. en-us Wed, 11 Oct 2023 00:00:00 +0530 Thu, 12 Oct 2023 10:30:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444286 Declared import value under the Customs Valuation Rules, 2007 cannot be rejected solely because the importer, supplier and Government of India are alleged to be related persons. Rejection of transaction value requires evidence that the relationship influenced the price under the applicable deeming tests for relationship and the transaction value rule. On the record, no material showed flow-back, undervaluation, or any price influence from the relationship, and the burden to displace the declared value was not met. Earlier tribunal decisions on the same transaction structure also supported acceptance of the declared value, so the Department's challenge to the valuation failed. Case-Laws Customs Wed, 11 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444286