https://www.taxtmi.com/caselaws?id=754312 CESTAT Mumbai held that customs authorities improperly rejected declared values of imported ball valves/check valves/cartridges without following prescribed valuation rules. The proper officer failed to adequately examine applicability of rules 4 and 5 of Customs Valuation Rules 2007, acting out of practical convenience rather than proper scrutiny. Re-determination of assessable value breached valuation rules and proceeded whimsically after rejecting transaction value. No effort was made to ascertain availability of transaction values for identical or similar goods. Appeals allowed by remand to original authorities for proper disposal according to Customs Valuation Rules 2007 framework. en-us Wed, 19 Jun 2024 00:00:00 +0530 Fri, 21 Jun 2024 08:16:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754312 CESTAT Mumbai held that customs authorities improperly rejected declared values of imported ball valves/check valves/cartridges without following prescribed valuation rules. The proper officer failed to adequately examine applicability of rules 4 and 5 of Customs Valuation Rules 2007, acting out of practical convenience rather than proper scrutiny. Re-determination of assessable value breached valuation rules and proceeded whimsically after rejecting transaction value. No effort was made to ascertain availability of transaction values for identical or similar goods. Appeals allowed by remand to original authorities for proper disposal according to Customs Valuation Rules 2007 framework. Case-Laws Customs Wed, 19 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754312