https://www.taxtmi.com/caselaws?id=754247 Declared transaction value under the Customs Valuation regime cannot be displaced unless the department first establishes legally sustainable grounds for rejection; market enquiry, departmental instructions, or standing orders alone are insufficient. The declared value must be accepted under Section 14 of the Customs Act, 1962, read with the Customs Valuation Rules, 2007, unless valid reasons justify reassessment. An appellate authority also cannot enhance assessable value on a basis outside the record or without notice to the affected party. The impugned valuation order was set aside and consequential relief followed in accordance with law. en-us Wed, 19 Jun 2024 00:00:00 +0530 Thu, 20 Jun 2024 08:36:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754247 Declared transaction value under the Customs Valuation regime cannot be displaced unless the department first establishes legally sustainable grounds for rejection; market enquiry, departmental instructions, or standing orders alone are insufficient. The declared value must be accepted under Section 14 of the Customs Act, 1962, read with the Customs Valuation Rules, 2007, unless valid reasons justify reassessment. An appellate authority also cannot enhance assessable value on a basis outside the record or without notice to the affected party. The impugned valuation order was set aside and consequential relief followed in accordance with law. Case-Laws Customs Wed, 19 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754247