https://www.taxtmi.com/caselaws?id=74081 The Appellate Tribunal CEGAT upheld the Collector of Customs' decision in the case involving M/s. Hind Packaging Industry. The Tribunal confirmed the under-valuation of imported audio magnetic tapes from Japan, leading to confiscation and penalties under Section 111(m) of the Customs Act, 1962. Despite the appellant's arguments on valuation discrepancies and import policy compliance, the Tribunal found the importation not covered by the license and lacking evidence supporting lower prices. Emphasizing the need for accurate valuation and evidence, the Tribunal upheld the confiscation and penalties, dismissing the appeal. en-us Mon, 01 Feb 1988 00:00:00 +0530 Mon, 06 Jun 2011 16:13:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=74081 The Appellate Tribunal CEGAT upheld the Collector of Customs' decision in the case involving M/s. Hind Packaging Industry. The Tribunal confirmed the under-valuation of imported audio magnetic tapes from Japan, leading to confiscation and penalties under Section 111(m) of the Customs Act, 1962. Despite the appellant's arguments on valuation discrepancies and import policy compliance, the Tribunal found the importation not covered by the license and lacking evidence supporting lower prices. Emphasizing the need for accurate valuation and evidence, the Tribunal upheld the confiscation and penalties, dismissing the appeal. Case-Laws Customs Mon, 01 Feb 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=74081