https://www.taxtmi.com/caselaws?id=51251 Declared transaction value for imported rough diamonds could not be rejected on the basis of appraising officers' views or trade panel opinions where the invoice was not shown to be fabricated or unreliable and no buyer-seller relationship was alleged. The Customs Valuation Rules required rejection of transaction value only if the case fell within the proviso to rule 4(2), and that basis was not established. The declared value was therefore accepted, and confiscation and penalty could not be sustained on the material relied upon by the department. en-us Tue, 26 Mar 2002 00:00:00 +0530 Thu, 23 Sep 2010 16:27:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51251 Declared transaction value for imported rough diamonds could not be rejected on the basis of appraising officers' views or trade panel opinions where the invoice was not shown to be fabricated or unreliable and no buyer-seller relationship was alleged. The Customs Valuation Rules required rejection of transaction value only if the case fell within the proviso to rule 4(2), and that basis was not established. The declared value was therefore accepted, and confiscation and penalty could not be sustained on the material relied upon by the department. Case-Laws Customs Tue, 26 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51251