https://www.taxtmi.com/caselaws?id=310862 Residual aircraft turbine fuel left after an international flight could not have its assessable value enhanced by adding a notional freight element under section 14 of the Customs Act, 1962 and Rule 10(2) of the Customs Valuation Rules, 2007, because the fuel remained part of the operating aircraft and was not separately transported as goods. The valuation rules permitted additions only for cost elements actually attributable to the imported goods, so freight, loading, unloading, handling and insurance could not be notionally imposed on these facts. Once the valuation enhancement failed, the penalty under section 112 also had no basis, as the alleged contravention depended on the unsustainable addition. en-us Thu, 18 Apr 2019 00:00:00 +0530 Wed, 22 Nov 2023 21:26:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310862 Residual aircraft turbine fuel left after an international flight could not have its assessable value enhanced by adding a notional freight element under section 14 of the Customs Act, 1962 and Rule 10(2) of the Customs Valuation Rules, 2007, because the fuel remained part of the operating aircraft and was not separately transported as goods. The valuation rules permitted additions only for cost elements actually attributable to the imported goods, so freight, loading, unloading, handling and insurance could not be notionally imposed on these facts. Once the valuation enhancement failed, the penalty under section 112 also had no basis, as the alleged contravention depended on the unsustainable addition. Case-Laws Customs Thu, 18 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310862