No Evidence Of Over-Valuation Of Goods; Transaction Value Wrongly Rejected Under Rule 8 of Customs Valuation Rules: CESTAT

CESTAT held that the transaction value of goods should not be rejected without substantial evidence under Rule 8 of the Customs Valuation Rules. The tribunal found that the valuation based on the transaction value was correct and that rejecting it without evidence was improper. This ruling emphasizes the importance of providing concrete evidence before rejecting transaction values in customs valuation disputes.