CESTAT dismisses the appeal and upholds reassessment and...

CESTAT dismisses the appeal and upholds reassessment and penalties. The Tribunal found deliberate mis-declaration of RSP on Bills of Entry, contrasted with recovered tags showing an RSP approximately ten times higher; the declared assessable value was rejected under Rule 12 and re-determined under Rules 5 and 7 of the Valuation Rules. The revenue validly invoked extended limitation under suppression of facts and confirmed demand under section 28(4). Penalties under sections 114A and 114AA were lawfully imposed for willful misstatement/suppression and short levy, given post-clearance affixation of correct price tags did not constitute manufacture rendering the original declaration bona fide. The impugned order is affirmed; appeal dismissed.