https://www.taxtmi.com/caselaws?id=51303 Declared import value under the Customs Valuation Rules, 1988 cannot be rejected merely on the basis of a price compilation unless it reflects comparable contemporaneous transactions and is supported by legally relevant evidence. A report treated only as a market price list, without proof of actual import comparables or fraud, is insufficient to enhance assessable value. Penalties and differential duty are also unsustainable where assessments remain provisional, misdeclaration is not established, and penalty provisions are invoked without the necessary factual and temporal foundation. The operative principle is that valuation enhancement and penal consequences require reliable evidence, proper procedural footing, and a valid statutory basis. en-us Wed, 07 Aug 2002 00:00:00 +0530 Fri, 24 Sep 2010 10:10:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51303 Declared import value under the Customs Valuation Rules, 1988 cannot be rejected merely on the basis of a price compilation unless it reflects comparable contemporaneous transactions and is supported by legally relevant evidence. A report treated only as a market price list, without proof of actual import comparables or fraud, is insufficient to enhance assessable value. Penalties and differential duty are also unsustainable where assessments remain provisional, misdeclaration is not established, and penalty provisions are invoked without the necessary factual and temporal foundation. The operative principle is that valuation enhancement and penal consequences require reliable evidence, proper procedural footing, and a valid statutory basis. Case-Laws Customs Wed, 07 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51303