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2008 (1) TMI 91 - SC - CustomsImport of Orange Shock Tube at reduced price because of increase in quantum of import – revenue proceeded against importer on account of undervaluation as declared value is substantially lower then actual value – revenue not placed any contemporaneous import of identical goods - Merely because the supplier was holding 30% of equity in share capital of importer, doesn’t establish mutuality of interest as no equity was held by the importer in foreign company – trancaction value acceptable
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