https://www.taxtmi.com/caselaws?id=51518 Declared transaction value cannot be rejected merely because another importer paid different prices; reliable material showing suppression, misstatement, or other legally relevant circumstances is required before departure from the declared value is justified. On the facts stated, the demand for six consignments was time-barred because the extended limitation period could not be invoked in the absence of evidence that invoice values were false or understated. Revaluation based only on third-party imports at a different port, without comparable invoices or a proper basis for averaging values across models, was unsustainable. As the duty demand failed, the confiscation-related penalties also could not stand. en-us Fri, 21 Jun 2002 00:00:00 +0530 Sat, 25 Sep 2010 12:15:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51518 Declared transaction value cannot be rejected merely because another importer paid different prices; reliable material showing suppression, misstatement, or other legally relevant circumstances is required before departure from the declared value is justified. On the facts stated, the demand for six consignments was time-barred because the extended limitation period could not be invoked in the absence of evidence that invoice values were false or understated. Revaluation based only on third-party imports at a different port, without comparable invoices or a proper basis for averaging values across models, was unsustainable. As the duty demand failed, the confiscation-related penalties also could not stand. Case-Laws Customs Fri, 21 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51518