https://www.taxtmi.com/caselaws?id=46688 The dominant issue was whether Customs authorities were entitled to assess import value on the basis of the invoice value for levy of customs duty. The SC held that although Customs are not bound by the invoice figure and may reject it on contemporaneous evidence showing it is not the true transaction value, an importer cannot contend that its own declared invoice value is incorrect to seek a different valuation. Consequently, the Tribunal's original order accepting invoice value as the basis of assessment was upheld, and the appeal was decided against the assessee. en-us Thu, 04 Sep 2003 00:00:00 +0530 Mon, 29 Dec 2025 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46688 The dominant issue was whether Customs authorities were entitled to assess import value on the basis of the invoice value for levy of customs duty. The SC held that although Customs are not bound by the invoice figure and may reject it on contemporaneous evidence showing it is not the true transaction value, an importer cannot contend that its own declared invoice value is incorrect to seek a different valuation. Consequently, the Tribunal's original order accepting invoice value as the basis of assessment was upheld, and the appeal was decided against the assessee. Case-Laws Customs Thu, 04 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46688