COMMISSIONER OF CUSTOMS, CALCUTTA vs M/S. SOUTH INDIA TELEVISION(P) LTD.

The Supreme Court addressed the assessable value of imported Ceramic Capacitors and Diodes under the Customs Valuation (Determination of Price of Imported Goods) Rules, 1988. The Court held that the declared price by the importer was valid and could not be disregarded based solely on unverified documents from foreign authorities, emphasizing that Rule 4 mandates the use of transaction value unless proven otherwise. The demand for differential duty was set aside, affirming the importer's position that the show cause notice lacked sufficient evidence to support claims of under-invoicing.