Statutory refund interest requires correction of short computation and compensation where admitted interest remains unpaid through administrative dela...
Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
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Undervaluation of imported goods - Patchouli Oil - The CESTAT found that the rejection of the declared value lacked legal basis and was unsupported by evidence. The Tribunal emphasized the importance of comparability in valuation and noted the lack of evidence in this regard. Additionally, the court clarified that the insurance value should not influence customs valuation. Finally, the penalty imposed on the director of the appellant company was set aside due to the lack of evidence of deliberate violation of customs laws. As a result, the appeals filed by the appellants were allowed.
Undervaluation of imported goods - Patchouli Oil - The CESTAT found that the rejection of the declared value lacked legal basis and was unsupported by evidence. The Tribunal emphasized the importance of comparability in valuation and noted the lack of evidence in this regard. Additionally, the court clarified that the insurance value should not influence customs valuation. Finally, the penalty imposed on the director of the appellant company was set aside due to the lack of evidence of deliberate violation of customs laws. As a result, the appeals filed by the appellants were allowed.
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