Customs authorities can't arbitrarily reject transaction value without valid reasons, evidence: CESTAT.

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) ruled that customs authorities cannot reject the transaction value of imported goods without valid reasons or evidence. The decision referenced the Supreme Court's ruling in Century Metal Recycling Pvt. Ltd., which requires that any rejection of declared valuation must be based on reasonable evidence and specific reasons. In this case, the revenue authorities failed to demonstrate any relationship between the parties, exchange of extra money, or influence of external factors on the declared value, making the rejection of the transaction value unjustified under Rule 12. .....

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