https://www.taxtmi.com/caselaws?id=80032 Genuine contemporaneous import invoices were treated as the correct basis for assessable value where the claimed lower price rested only on unsubstantiated credit notes and lacked reliable evidence of renegotiation or commercial correspondence. On that footing, the higher invoice values were accepted, the import licences were properly debited on the ascertained value, and the undervaluation finding remained intact. The redemption fine was moderated in some matters because of the lapse of time and adjudication delay, but the penalties were upheld because the record showed deliberate mis-declaration and attempted duty evasion. en-us Tue, 06 Jun 1989 00:00:00 +0530 Tue, 14 Jun 2011 12:10:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=80032 Genuine contemporaneous import invoices were treated as the correct basis for assessable value where the claimed lower price rested only on unsubstantiated credit notes and lacked reliable evidence of renegotiation or commercial correspondence. On that footing, the higher invoice values were accepted, the import licences were properly debited on the ascertained value, and the undervaluation finding remained intact. The redemption fine was moderated in some matters because of the lapse of time and adjudication delay, but the penalties were upheld because the record showed deliberate mis-declaration and attempted duty evasion. Case-Laws Customs Tue, 06 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=80032