https://www.taxtmi.com/caselaws?id=75224 Market enquiry concerning the imported goods and the importer's own admission of 25% undervaluation were treated as sufficient support for enhancing assessable value under Rule 8(1) of the Customs Valuation Rules, 1998. The enquiry report was considered reliable even though shop sale invoices were not produced, because it recorded the basis of comparison and related to comparable goods. Once undervaluation and enhanced value were accepted, redemption fine and penalty under Section 112(a) of the Customs Act, 1962 were required to remain proportionate to the enhanced value; the reduced appellate amounts were therefore described as unsustainable and the original amounts were restored. en-us Tue, 21 Oct 2008 00:00:00 +0530 Wed, 31 Mar 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75224 Market enquiry concerning the imported goods and the importer's own admission of 25% undervaluation were treated as sufficient support for enhancing assessable value under Rule 8(1) of the Customs Valuation Rules, 1998. The enquiry report was considered reliable even though shop sale invoices were not produced, because it recorded the basis of comparison and related to comparable goods. Once undervaluation and enhanced value were accepted, redemption fine and penalty under Section 112(a) of the Customs Act, 1962 were required to remain proportionate to the enhanced value; the reduced appellate amounts were therefore described as unsustainable and the original amounts were restored. Case-Laws Customs Tue, 21 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75224