https://www.taxtmi.com/caselaws?id=54669 Declared transaction value for imported goods cannot be rejected unless the specific grounds in Rule 4(2) of the Customs Valuation Rules are clearly established. Mere reliance on contemporaneous imports, without identifying a valid basis for rejection, is insufficient. Where the record shows no extra amount paid over the declared price and the price arises from a forward contract, the contracted value supports acceptance for customs duty purposes. An earlier decision was held inapplicable because it concerned the position before amendment of Section 14 of the Customs Act, so the declared value was to be accepted. en-us Tue, 16 Aug 2005 00:00:00 +0530 Thu, 21 Oct 2010 13:53:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54669 Declared transaction value for imported goods cannot be rejected unless the specific grounds in Rule 4(2) of the Customs Valuation Rules are clearly established. Mere reliance on contemporaneous imports, without identifying a valid basis for rejection, is insufficient. Where the record shows no extra amount paid over the declared price and the price arises from a forward contract, the contracted value supports acceptance for customs duty purposes. An earlier decision was held inapplicable because it concerned the position before amendment of Section 14 of the Customs Act, so the declared value was to be accepted. Case-Laws Customs Tue, 16 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54669