https://www.taxtmi.com/highlights?id=97561 Failure to apply the prescribed sequential test under the Customs Valuation Rules (transaction value under Rule 3 then Rules 4-9) led to an unlawful re-determination of assessable value based on a single contemporaneous import; the decision ignored numerous identical imports by the importer and omitted commercial-level and quantity comparability adjustments, rendering the Rule 5 re-determination invalid. Separately, confiscation, redemption fine and penalty were quashed for lack of evidential proof of mis-declaration or any flow-back of consideration, where trade documents showed CIP terms and examining officers had not found mis-declaration at appraisal. en-us Wed, 11 Mar 2026 08:17:50 +0530 Wed, 11 Mar 2026 08:17:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97561 Failure to apply the prescribed sequential test under the Customs Valuation Rules (transaction value under Rule 3 then Rules 4-9) led to an unlawful re-determination of assessable value based on a single contemporaneous import; the decision ignored numerous identical imports by the importer and omitted commercial-level and quantity comparability adjustments, rendering the Rule 5 re-determination invalid. Separately, confiscation, redemption fine and penalty were quashed for lack of evidential proof of mis-declaration or any flow-back of consideration, where trade documents showed CIP terms and examining officers had not found mis-declaration at appraisal. Highlights Customs Wed, 11 Mar 2026 08:17:50 +0530 https://www.taxtmi.com/highlights?id=97561