https://www.taxtmi.com/caselaws?id=793078 A declared import value cannot be rejected or enhanced on the basis of a promptly retracted statement alone. The comparison invoice was not a valid benchmark because its description and specifications differed from the imported goods, and there was no supporting evidence of contemporaneous imports to justify rejection of transaction value under Rule 12 of the Customs Valuation Rules or redetermination under Rule 3(1) read with Section 14 of the Customs Act. The enhancement and consequential findings based solely on the retracted statement were therefore unsustainable, and the impugned order was set aside. en-us Thu, 07 May 2026 00:00:00 +0530 Tue, 09 Jun 2026 07:50:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793078 A declared import value cannot be rejected or enhanced on the basis of a promptly retracted statement alone. The comparison invoice was not a valid benchmark because its description and specifications differed from the imported goods, and there was no supporting evidence of contemporaneous imports to justify rejection of transaction value under Rule 12 of the Customs Valuation Rules or redetermination under Rule 3(1) read with Section 14 of the Customs Act. The enhancement and consequential findings based solely on the retracted statement were therefore unsustainable, and the impugned order was set aside. Case-Laws Customs Thu, 07 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793078