https://www.taxtmi.com/caselaws?id=46845 Customs valuation of imported goods must begin with acceptance of the declared transaction value under the Customs Act and Customs Valuation Rules, 1988, unless legally sustainable reasons exist to reject it under the prescribed rule. Only after valid rejection can the authorities move to the alternative valuation method in the statutory sequence. Because no adequate reason for rejecting the declared value was recorded and the mandatory sequence was not followed, the rejection was unsustainable. The declared value was therefore accepted, and the valuation order was set aside with refund of any amount paid. en-us Tue, 11 Nov 2003 00:00:00 +0530 Wed, 24 Sep 2025 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46845 Customs valuation of imported goods must begin with acceptance of the declared transaction value under the Customs Act and Customs Valuation Rules, 1988, unless legally sustainable reasons exist to reject it under the prescribed rule. Only after valid rejection can the authorities move to the alternative valuation method in the statutory sequence. Because no adequate reason for rejecting the declared value was recorded and the mandatory sequence was not followed, the rejection was unsustainable. The declared value was therefore accepted, and the valuation order was set aside with refund of any amount paid. Case-Laws Customs Tue, 11 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46845