https://www.taxtmi.com/caselaws?id=44811 Under Section 14 of the Customs Act, assessable value is the ordinary sale price at the time and place of importation where buyer and seller are independent and price is the sole consideration. The burden to prove undervaluation lies on the revenue, and an invoice price cannot be rejected without reliable evidence that it is not the real transaction price. Here, the old price list was insufficient, while revised pricing, negotiated commercial discounts, and comparable imports supported the declared value. The invoice prices therefore had to be accepted as the assessable value for customs duty purposes. en-us Wed, 04 Feb 1998 00:00:00 +0530 Mon, 10 Aug 2026 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=44811 Under Section 14 of the Customs Act, assessable value is the ordinary sale price at the time and place of importation where buyer and seller are independent and price is the sole consideration. The burden to prove undervaluation lies on the revenue, and an invoice price cannot be rejected without reliable evidence that it is not the real transaction price. Here, the old price list was insufficient, while revised pricing, negotiated commercial discounts, and comparable imports supported the declared value. The invoice prices therefore had to be accepted as the assessable value for customs duty purposes. Case-Laws Customs Wed, 04 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=44811