https://www.taxtmi.com/caselaws?id=763574 Where the overseas supplier bore freight and insurance and the shipment was supported by marine policy and invoice records, the import was treated as CIF, so notional freight and insurance could not be added to assessable value. MRP-based valuation under Section 4A was inapplicable because the goods were imported in liquid bulk form for institutional supply, not in the retail forms covered by the notification or for individual consumer sale, so the additional duty enhancement failed. The demand was also time-barred because the relevant customs documents were already available at clearance and no suppression or wilful misstatement with intent to evade duty was shown. en-us Wed, 18 Dec 2024 00:00:00 +0530 Mon, 23 Dec 2024 08:43:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763574 Where the overseas supplier bore freight and insurance and the shipment was supported by marine policy and invoice records, the import was treated as CIF, so notional freight and insurance could not be added to assessable value. MRP-based valuation under Section 4A was inapplicable because the goods were imported in liquid bulk form for institutional supply, not in the retail forms covered by the notification or for individual consumer sale, so the additional duty enhancement failed. The demand was also time-barred because the relevant customs documents were already available at clearance and no suppression or wilful misstatement with intent to evade duty was shown. Case-Laws Customs Wed, 18 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763574