https://www.taxtmi.com/caselaws?id=799911 Failure to consider an applicable Board circular and directly relevant precedent may constitute a mistake apparent from the record for rectification under the Customs Act where correction requires no fresh evidence, reappreciation, or review of the merits. For shipping bills dated before 31 December 2008, the declared FOB value must be treated as a cum-duty price for export-duty assessment under the circular's transitional direction. Assessable value is consequently determined by working backwards from the FOB value. The changed valuation method applies only from 1 January 2009, so post-transition decisions do not govern pre-transition shipping bills. en-us Thu, 03 Sep 2026 00:00:00 +0530 Tue, 29 Sep 2026 08:34:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799911 Failure to consider an applicable Board circular and directly relevant precedent may constitute a mistake apparent from the record for rectification under the Customs Act where correction requires no fresh evidence, reappreciation, or review of the merits. For shipping bills dated before 31 December 2008, the declared FOB value must be treated as a cum-duty price for export-duty assessment under the circular's transitional direction. Assessable value is consequently determined by working backwards from the FOB value. The changed valuation method applies only from 1 January 2009, so post-transition decisions do not govern pre-transition shipping bills. Case-Laws Customs Thu, 03 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799911