https://www.taxtmi.com/caselaws?id=793928 CESTAT New Delhi examined customs valuation of imported watch parts and held that the declared transaction value could be rejected where surrounding material, including the buyer-seller relationship and undisclosed documents, created reasonable doubt about accuracy. However, re-determination under Rule 8 had to follow the sequential valuation scheme, and the basis used for most watch parts was found inconsistent and unsupported. Only the leather straps valuation was sustained on the strength of a duplicate invoice, leaving the duty demand upheld only to that limited extent. As the main valuation demand fell, the confiscation, redemption fine and penalties were also set aside, except insofar as they tracked the surviving duty component. en-us Tue, 23 Jun 2026 00:00:00 +0530 Fri, 26 Jun 2026 07:07:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793928 CESTAT New Delhi examined customs valuation of imported watch parts and held that the declared transaction value could be rejected where surrounding material, including the buyer-seller relationship and undisclosed documents, created reasonable doubt about accuracy. However, re-determination under Rule 8 had to follow the sequential valuation scheme, and the basis used for most watch parts was found inconsistent and unsupported. Only the leather straps valuation was sustained on the strength of a duplicate invoice, leaving the duty demand upheld only to that limited extent. As the main valuation demand fell, the confiscation, redemption fine and penalties were also set aside, except insofar as they tracked the surviving duty component. Case-Laws Customs Tue, 23 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793928