https://www.taxtmi.com/highlights?id=97649 Rejection of declared transaction value was challenged on the ground that reassessment relied on contemporaneous import prices without adequate disclosure or opportunity to the importer; CESTAT held that Rule 12 requires written intimation of grounds and a reasonable hearing before discarding transaction value. The authority's use of NIDB contemporaneous prices was not transparently explained as comparable to the imported goods and was not made available pre-hearing, depriving the importer of a chance to rebut. Result: reassessment set aside for failure to give cogent reasons and opportunity consistent with the Valuation Rules. en-us Fri, 13 Mar 2026 08:36:46 +0530 Fri, 13 Mar 2026 08:36:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97649 Rejection of declared transaction value was challenged on the ground that reassessment relied on contemporaneous import prices without adequate disclosure or opportunity to the importer; CESTAT held that Rule 12 requires written intimation of grounds and a reasonable hearing before discarding transaction value. The authority's use of NIDB contemporaneous prices was not transparently explained as comparable to the imported goods and was not made available pre-hearing, depriving the importer of a chance to rebut. Result: reassessment set aside for failure to give cogent reasons and opportunity consistent with the Valuation Rules. Highlights Customs Fri, 13 Mar 2026 08:36:46 +0530 https://www.taxtmi.com/highlights?id=97649