https://www.taxtmi.com/caselaws?id=761896 Declared transaction value in customs valuation can be displaced only by reliable proof that the contract price is not the true transaction value or that freight and insurance were excluded. Where import contracts were on CIP/DAP terms and the alleged foreign statistical declarations and supplementary invoices were not corroborated by payment records, authenticated adjustments, or a valid link to the importer's books, the declared value could not be enhanced under the Customs Valuation Rules. Unsupported statements and electronic communications also lacked sufficient evidentiary value to sustain a duty demand or consequential confiscation and penalties, as the revenue failed to prove misdeclaration, suppression, or non-inclusion of chargeable elements. en-us Mon, 18 Nov 2024 00:00:00 +0530 Mon, 18 Nov 2024 14:47:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761896 Declared transaction value in customs valuation can be displaced only by reliable proof that the contract price is not the true transaction value or that freight and insurance were excluded. Where import contracts were on CIP/DAP terms and the alleged foreign statistical declarations and supplementary invoices were not corroborated by payment records, authenticated adjustments, or a valid link to the importer's books, the declared value could not be enhanced under the Customs Valuation Rules. Unsupported statements and electronic communications also lacked sufficient evidentiary value to sustain a duty demand or consequential confiscation and penalties, as the revenue failed to prove misdeclaration, suppression, or non-inclusion of chargeable elements. Case-Laws Customs Mon, 18 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761896