Valuation of imported goods - contemporaneous data of imports - rejection of declared value - the...

Valuation of imported goods - contemporaneous data of imports - rejection of declared value - the assessable value in these Bills of Entry were given in Rupees whereas the declared values in the Bill of Entry are in US dollars. It is not clear of what rate of exchange is applied to convert rupees into dollars to re-determine the assessable value under Rule 5. - The rejection of the transaction value by the Deputy Commissioner is not in accordance with law. Consequently, its re-determination under Rule 5 cannot also sustain - AT .....

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