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2017 (6) TMI 991 - AT - CustomsValuation - The declared value of the imported goods was proposed to be rejected in terms of Rule 10A of the Customs Valuation Rules, 1988 - valuation of contemporaneous import of identical / similar goods as found in NIDB data and proceeded to step up the value - Held that: - Section 14 of the CA, 1962 as well as Customs Valuation Rules do not sanction such a method for redetermination of assessable value. The transaction value is required to be accepted unless there are valid reasons for rejection of such value as provided in the Customs Valuation Rules - In the present case, no valid reasons have been recorded for ignoring the transaction value. Neither the market enquiry nor NIDB date will be a valid ground to disregard the transaction value - appeal allowed - decided in favor of appellant.
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