https://www.taxtmi.com/caselaws?id=54142 Declared transaction value for imported electronic components cannot be rejected without first addressing contemporaneous import documents showing comparable or lower prices accepted by Customs. A proforma invoice said to have been issued by a foreign supplier was treated as unreliable after the supplier disowned it, and evidence from another domestic importer was not properly used because cross-examination was denied. Valuation under Rule 7 was unnecessary where the importer's material supported determination under Rule 5, and the record did not show adoption of the lowest contemporaneous price as required by Rule 5(3). On that reasoning, rejection of declared value and consequential reassessment were unsustainable. en-us Mon, 09 May 2005 00:00:00 +0530 Mon, 18 Oct 2010 11:53:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54142 Declared transaction value for imported electronic components cannot be rejected without first addressing contemporaneous import documents showing comparable or lower prices accepted by Customs. A proforma invoice said to have been issued by a foreign supplier was treated as unreliable after the supplier disowned it, and evidence from another domestic importer was not properly used because cross-examination was denied. Valuation under Rule 7 was unnecessary where the importer's material supported determination under Rule 5, and the record did not show adoption of the lowest contemporaneous price as required by Rule 5(3). On that reasoning, rejection of declared value and consequential reassessment were unsustainable. Case-Laws Customs Mon, 09 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54142