Rejecting lower declared value of imported goods if admittedly under-valued, sans need for reasons.

Rejecting lower declared value of imported goods if admittedly under-valued, sans need for reasons. https://www.taxtmi.com/highlights?id=80993 Customs Valuation Rules 2007 - Rule 12 allows rejection of declared transaction value and re-determination u/r 9 if identical/similar goods imported at comparable time/quantities/commercial transactions at higher value. JSB Aluminium admitted declared value lower, accepted re-determination at higher price. Assessing Officer not required to give reasons for rejection when value admitted lower. Supreme Court precedents - admitted facts need not be proved, transaction value rejectable without cogent evidence if value admitted lower. Commissioner (Appeals) order allowing appeals set aside, appeal by department allowed. en-us Wed, 04 Sep 2024 08:19:17 +0530 Wed, 04 Sep 2024 08:19:17 +0530 TaxTMI RSS Generator Rejecting lower declared value of imported goods if admittedly under-valued, sans need for reasons. https://www.taxtmi.com/highlights?id=80993 Customs Valuation Rules 2007 - Rule 12 allows rejection of declared transaction value and re-determination u/r 9 if identical/similar goods imported at comparable time/quantities/commercial transactions at higher value. JSB Aluminium admitted declared value lower, accepted re-determination at higher price. Assessing Officer not required to give reasons for rejection when value admitted lower. Supreme Court precedents - admitted facts need not be proved, transaction value rejectable without cogent evidence if value admitted lower. Commissioner (Appeals) order allowing appeals set aside, appeal by department allowed. Highlights Customs Wed, 04 Sep 2024 08:19:17 +0530 https://www.taxtmi.com/highlights?id=80993