https://www.taxtmi.com/caselaws?id=74088 Long-standing customs practice permitting similar imports under comparable licences supported acceptance of the import licences, so the finding of invalidity and the confiscation and penalties founded solely on that objection were set aside. By contrast, the declared import value was rejected where contemporaneous import data, other invoices, and the absence of supporting commercial records indicated undervaluation; the statutory valuation framework was applied and the enhanced assessable value was sustained. The decision therefore distinguished licence validity from valuation, upholding clearance on the licensing issue while maintaining the revised duty basis on valuation. en-us Thu, 03 Mar 1988 00:00:00 +0530 Mon, 06 Jun 2011 16:47:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=74088 Long-standing customs practice permitting similar imports under comparable licences supported acceptance of the import licences, so the finding of invalidity and the confiscation and penalties founded solely on that objection were set aside. By contrast, the declared import value was rejected where contemporaneous import data, other invoices, and the absence of supporting commercial records indicated undervaluation; the statutory valuation framework was applied and the enhanced assessable value was sustained. The decision therefore distinguished licence validity from valuation, upholding clearance on the licensing issue while maintaining the revised duty basis on valuation. Case-Laws Customs Thu, 03 Mar 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=74088