https://www.taxtmi.com/caselaws?id=771104 Customs authorities may reject a declared export value for assessment and redetermine only the assessable value under section 14 and the Valuation Rules, but they cannot alter the contractual FOB transaction value itself. Drawback and ROSL, being FOB-linked under the governing scheme, had to be computed on the declared FOB value and could not be restricted to a notional value fixed by customs. Once the FOB redetermination was found impermissible, the connected confiscation, redemption fine and penalty also could not survive and were set aside. en-us Mon, 19 May 2025 00:00:00 +0530 Tue, 20 May 2025 11:15:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771104 Customs authorities may reject a declared export value for assessment and redetermine only the assessable value under section 14 and the Valuation Rules, but they cannot alter the contractual FOB transaction value itself. Drawback and ROSL, being FOB-linked under the governing scheme, had to be computed on the declared FOB value and could not be restricted to a notional value fixed by customs. Once the FOB redetermination was found impermissible, the connected confiscation, redemption fine and penalty also could not survive and were set aside. Case-Laws Customs Mon, 19 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771104