https://www.taxtmi.com/caselaws?id=764793 Declared transaction value under customs valuation law cannot be rejected unless the Revenue produces cogent, contemporaneous evidence of undervaluation, such as comparable imports or other reliable material. Valuation ordinarily follows transaction value under Section 14(1) of the Customs Act, 1962 read with Rules 3 and 4 of the Customs Valuation Rules, 2007, and the burden to displace the invoice value rests on the Revenue. A bare importer's statement or voluntary deposit, especially if alleged to have been made under coercion, is insufficient without corroboration. In the absence of proof that the apparent price was not the real price, rejection of value, differential duty, confiscation and penalties were unsustainable. en-us Fri, 17 Jan 2025 00:00:00 +0530 Fri, 17 Jan 2025 14:08:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764793 Declared transaction value under customs valuation law cannot be rejected unless the Revenue produces cogent, contemporaneous evidence of undervaluation, such as comparable imports or other reliable material. Valuation ordinarily follows transaction value under Section 14(1) of the Customs Act, 1962 read with Rules 3 and 4 of the Customs Valuation Rules, 2007, and the burden to displace the invoice value rests on the Revenue. A bare importer's statement or voluntary deposit, especially if alleged to have been made under coercion, is insufficient without corroboration. In the absence of proof that the apparent price was not the real price, rejection of value, differential duty, confiscation and penalties were unsustainable. Case-Laws Customs Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764793