https://www.taxtmi.com/caselaws?id=796735 Customs transaction value may be rejected under Rule 12 where reliable, corroborated evidence, including contemporaneous invoices and overseas verification, creates reasonable doubt about the declared value. Refundable overseas VAT is excluded from assessable value because it is not part of the price paid or payable for export. Temporary foreign registration, without proof of actual use, does not make a vehicle used or defeat the available new-vehicle exemption. Deliberate value misdeclaration supports confiscability, but redemption fine is impermissible once cleared goods are unavailable for confiscation. Duty, interest and the duty-linked penalty require recalculation after granting the exemption and excluding refundable VAT; a separate intermediary penalty remains sustainable. en-us Fri, 07 Aug 2026 00:00:00 +0530 Mon, 10 Aug 2026 10:08:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796735 Customs transaction value may be rejected under Rule 12 where reliable, corroborated evidence, including contemporaneous invoices and overseas verification, creates reasonable doubt about the declared value. Refundable overseas VAT is excluded from assessable value because it is not part of the price paid or payable for export. Temporary foreign registration, without proof of actual use, does not make a vehicle used or defeat the available new-vehicle exemption. Deliberate value misdeclaration supports confiscability, but redemption fine is impermissible once cleared goods are unavailable for confiscation. Duty, interest and the duty-linked penalty require recalculation after granting the exemption and excluding refundable VAT; a separate intermediary penalty remains sustainable. Case-Laws Customs Fri, 07 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796735