https://www.taxtmi.com/caselaws?id=314238 Reassessment of imported goods that departs from the declared transaction value must comply with Section 17 of the Customs Act, 1962, including recorded reasons and a speaking order where the proper officer rejects self-assessment under sub-section (4). Enhancement based only on contemporaneous import data and internal customs references was not sustainable because no reasons for rejecting the manufacturer's invoice were communicated and no speaking order was passed. In the absence of disclosed statutory compliance or material discrediting the invoice, the declared CIF transaction value could not be displaced on contemporaneous data alone. en-us Mon, 15 May 2023 00:00:00 +0530 Mon, 27 May 2024 16:44:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314238 Reassessment of imported goods that departs from the declared transaction value must comply with Section 17 of the Customs Act, 1962, including recorded reasons and a speaking order where the proper officer rejects self-assessment under sub-section (4). Enhancement based only on contemporaneous import data and internal customs references was not sustainable because no reasons for rejecting the manufacturer's invoice were communicated and no speaking order was passed. In the absence of disclosed statutory compliance or material discrediting the invoice, the declared CIF transaction value could not be displaced on contemporaneous data alone. Case-Laws Customs Mon, 15 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314238