https://www.taxtmi.com/caselaws?id=73953 Alterations in the Bill of Entry, inconsistent declarations, and a request for OGL clearance supported a finding of improper import and confiscability under customs law, although the importers were entitled to produce valid licences for consideration on merits. The declared transaction value was rejected because contemporaneous documents, invoice particulars, the timing of the order and letter of credit, and surrounding circumstances showed understatement; exact proof was not required where reasonable inference could be drawn from the record. The higher value was upheld, but the redemption fine and penalty were reduced in light of the overall circumstances, duty impact, time lag, and demurrage. en-us Fri, 18 Mar 1988 00:00:00 +0530 Sat, 04 Jun 2011 16:55:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=73953 Alterations in the Bill of Entry, inconsistent declarations, and a request for OGL clearance supported a finding of improper import and confiscability under customs law, although the importers were entitled to produce valid licences for consideration on merits. The declared transaction value was rejected because contemporaneous documents, invoice particulars, the timing of the order and letter of credit, and surrounding circumstances showed understatement; exact proof was not required where reasonable inference could be drawn from the record. The higher value was upheld, but the redemption fine and penalty were reduced in light of the overall circumstances, duty impact, time lag, and demurrage. Case-Laws Customs Fri, 18 Mar 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=73953