https://www.taxtmi.com/caselaws?id=790030 Declared transaction value for directly imported scrap cannot be rejected under section 14 of the Customs Act without evidence of contemporaneous imports of identical or similar goods or any other legally sustainable basis; the re-determined value and differential duty for those Bills of Entry were set aside. For high-sea-sale imports, assessable value must be verified against the original invoice, high-sea-sale contract and related documents under the Customs Valuation Rules and Circular No. 32/2004-Cus; where the documentary chain was incomplete, valuation and connected penalties required fresh adjudication. The valuation dispute and penalties were therefore remanded for verification and hearing. en-us Thu, 16 Apr 2026 00:00:00 +0530 Sat, 18 Apr 2026 08:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790030 Declared transaction value for directly imported scrap cannot be rejected under section 14 of the Customs Act without evidence of contemporaneous imports of identical or similar goods or any other legally sustainable basis; the re-determined value and differential duty for those Bills of Entry were set aside. For high-sea-sale imports, assessable value must be verified against the original invoice, high-sea-sale contract and related documents under the Customs Valuation Rules and Circular No. 32/2004-Cus; where the documentary chain was incomplete, valuation and connected penalties required fresh adjudication. The valuation dispute and penalties were therefore remanded for verification and hearing. Case-Laws Customs Thu, 16 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790030