https://www.taxtmi.com/caselaws?id=52340 Declared transaction value for imported goods cannot be rejected and the assessable value cannot be enhanced unless the rejection is supported by recognised grounds, the importer is told the basis for the proposed variation, and the prescribed valuation procedure is followed. Mere reference to a lower declared value, market price, or a general market enquiry is insufficient where no particulars, comparable import data, or other reliable material are disclosed. On the facts noted, the assessment orders gave no legally sustainable basis for loading the value, and the appellate order did not cure that defect. The rejection of transaction value and enhancement of assessable value were therefore unsustainable. en-us Mon, 01 Sep 2003 00:00:00 +0530 Tue, 05 Oct 2010 12:42:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52340 Declared transaction value for imported goods cannot be rejected and the assessable value cannot be enhanced unless the rejection is supported by recognised grounds, the importer is told the basis for the proposed variation, and the prescribed valuation procedure is followed. Mere reference to a lower declared value, market price, or a general market enquiry is insufficient where no particulars, comparable import data, or other reliable material are disclosed. On the facts noted, the assessment orders gave no legally sustainable basis for loading the value, and the appellate order did not cure that defect. The rejection of transaction value and enhancement of assessable value were therefore unsustainable. Case-Laws Customs Mon, 01 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52340