https://www.taxtmi.com/highlights?id=77007 Undervaluation - Imports of high-end foreign cars - The appellate tribunal noted that the assessable value was determined using various sources, including the car manufacturer's website and internet values. However, crucial information, such as Alberto's retracted statement and documentary evidence, was not adequately considered. The tribunal observed discrepancies in the invoices and highlighted the lack of evidence supporting the revenue's allegations of under-valuation. As the burden of proof rested with the revenue, the tribunal found the valuation unsustainable and set aside the impugned order. en-us Wed, 01 May 2024 07:58:07 +0530 Wed, 01 May 2024 07:58:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77007 Undervaluation - Imports of high-end foreign cars - The appellate tribunal noted that the assessable value was determined using various sources, including the car manufacturer's website and internet values. However, crucial information, such as Alberto's retracted statement and documentary evidence, was not adequately considered. The tribunal observed discrepancies in the invoices and highlighted the lack of evidence supporting the revenue's allegations of under-valuation. As the burden of proof rested with the revenue, the tribunal found the valuation unsustainable and set aside the impugned order. Highlights Customs Wed, 01 May 2024 07:58:07 +0530 https://www.taxtmi.com/highlights?id=77007