https://www.taxtmi.com/caselaws?id=795403 Separately settled demurrage for vessel delay, where contractually outside the letter-of-credit payment for imported goods, is described as not forming part of the price paid or payable and therefore outside transaction and assessable value. The notes further state that a customs demand cannot be confirmed under a valuation rule not invoked in the show cause notice, particularly where that rule was declared ultra vires. Extended limitation requires evidence of deliberate suppression and intent to evade duty; mere allegations are insufficient. en-us Fri, 10 Jul 2026 00:00:00 +0530 Wed, 22 Jul 2026 08:48:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795403 Separately settled demurrage for vessel delay, where contractually outside the letter-of-credit payment for imported goods, is described as not forming part of the price paid or payable and therefore outside transaction and assessable value. The notes further state that a customs demand cannot be confirmed under a valuation rule not invoked in the show cause notice, particularly where that rule was declared ultra vires. Extended limitation requires evidence of deliberate suppression and intent to evade duty; mere allegations are insufficient. Case-Laws Customs Fri, 10 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795403