M/S EICHER TRACTORS LTD., HARYANA vs COMMNR. OF CUSTOMS, MUMBAI

The Supreme Court addressed the valuation of imported goods under Section 14 of the Customs Act, 1962, and Rule 4 of the Customs Valuation (Determination of Price of Imported Goods) Rules, 1988. The Court held that the Assistant Commissioner erred in applying Rule 8 without first determining the value under Rule 4, emphasizing that discounts are a normal aspect of commerce. The Court ultimately set aside the Tribunal's decision, allowing the appellant's appeal and reinstating the Commissioner of Customs (Appeals) ruling.