https://www.taxtmi.com/caselaws?id=41964 Customs valuation under Section 14 permits rejection of the declared invoice price where the transaction is not at arm's length and independent quotations better reflect the ordinary market price; on these facts, the higher assessable value was upheld. A penalty and confiscation order for misdeclaration of weight could not stand because the authorities failed to give reasoned consideration to the importer's explanation. The penalty-related finding was therefore set aside and the matter remitted for fresh consideration after hearing the appellants. en-us Wed, 08 Jul 1987 00:00:00 +0530 Tue, 08 Jun 2010 12:41:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=41964 Customs valuation under Section 14 permits rejection of the declared invoice price where the transaction is not at arm's length and independent quotations better reflect the ordinary market price; on these facts, the higher assessable value was upheld. A penalty and confiscation order for misdeclaration of weight could not stand because the authorities failed to give reasoned consideration to the importer's explanation. The penalty-related finding was therefore set aside and the matter remitted for fresh consideration after hearing the appellants. Case-Laws Customs Wed, 08 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=41964