https://www.taxtmi.com/caselaws?id=788713 Freight and insurance may be added to declared FOB value where the importer cannot produce cogent material showing that transportation and insurance costs were nil or that FOB and CIF values were identical; on the facts, the invoice terms and lack of proof supported loading of assessable value. By contrast, the extended limitation period cannot be invoked without proof of conscious suppression or wilful misstatement, and a valuation dispute with full disclosure and revenue-neutral consequences does not by itself satisfy that threshold. The material thus illustrates the distinction between valuation adjustment on merits and the stricter requirement for invoking extended limitation under customs law. en-us Wed, 25 Mar 2026 00:00:00 +0530 Fri, 27 Mar 2026 08:52:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788713 Freight and insurance may be added to declared FOB value where the importer cannot produce cogent material showing that transportation and insurance costs were nil or that FOB and CIF values were identical; on the facts, the invoice terms and lack of proof supported loading of assessable value. By contrast, the extended limitation period cannot be invoked without proof of conscious suppression or wilful misstatement, and a valuation dispute with full disclosure and revenue-neutral consequences does not by itself satisfy that threshold. The material thus illustrates the distinction between valuation adjustment on merits and the stricter requirement for invoking extended limitation under customs law. Case-Laws Customs Wed, 25 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788713