https://www.taxtmi.com/caselaws?id=49999 Declared export valuation of wrist watches was not shown to be overvalued where it was only marginally above the manufacturer's clearance value and was supported by AR-4 documentation and a cost-construction certificate countersigned by the jurisdictional officer. Market enquiries and loosely described sale memos were treated as an unsafe basis for comparison, particularly for a generic description such as electronic digital watches. The exporter's connection with the manufacturing company did not, by itself, establish overvaluation, and the factory-approved declared value remained the relevant benchmark. On that basis, the finding of overvaluation was held unsustainable, and confiscation and penalty were set aside with consequential relief. en-us Thu, 17 Feb 2000 00:00:00 +0530 Thu, 19 Aug 2010 10:38:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49999 Declared export valuation of wrist watches was not shown to be overvalued where it was only marginally above the manufacturer's clearance value and was supported by AR-4 documentation and a cost-construction certificate countersigned by the jurisdictional officer. Market enquiries and loosely described sale memos were treated as an unsafe basis for comparison, particularly for a generic description such as electronic digital watches. The exporter's connection with the manufacturing company did not, by itself, establish overvaluation, and the factory-approved declared value remained the relevant benchmark. On that basis, the finding of overvaluation was held unsustainable, and confiscation and penalty were set aside with consequential relief. Case-Laws Customs Thu, 17 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49999