https://www.taxtmi.com/caselaws?id=80174 For customs valuation of a used machine, the declared invoice price was not conclusive because Section 14 requires assessment on the real value of like goods at the time and place of importation. The department's relied-upon comparison was rejected as not truly comparable, while other evidence such as earlier invoices, a Chartered Engineer's certificate, and an affidavit supported valuation on the highest proven basis with freight and insurance added. Since the record did not establish deliberate under-invoicing, mala fides, or intentional misdeclaration, confiscation, redemption fine, and penalty were not sustainable and were set aside. en-us Thu, 28 Sep 1989 00:00:00 +0530 Wed, 15 Jun 2011 12:05:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=80174 For customs valuation of a used machine, the declared invoice price was not conclusive because Section 14 requires assessment on the real value of like goods at the time and place of importation. The department's relied-upon comparison was rejected as not truly comparable, while other evidence such as earlier invoices, a Chartered Engineer's certificate, and an affidavit supported valuation on the highest proven basis with freight and insurance added. Since the record did not establish deliberate under-invoicing, mala fides, or intentional misdeclaration, confiscation, redemption fine, and penalty were not sustainable and were set aside. Case-Laws Customs Thu, 28 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=80174