https://www.taxtmi.com/caselaws?id=81318 Ready-to-use pencil erasers packed as stationery were treated as consumer goods under the import policy, so a licence for synthetic rubber products did not cover them; confiscation under Section 111(d) of the Customs Act, 1962 was upheld. On valuation, the declared assessable value could not be rejected because the Department did not show a clear, objective and lawful basis for re-determination, and the invoice and freight discrepancies were insufficient to dislodge the transaction value; the under-valuation charge was not established. The result was partial relief, with the import-control finding sustained but the valuation enhancement and corresponding penalties reduced. en-us Wed, 01 May 1991 00:00:00 +0530 Thu, 23 Jun 2011 17:32:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=81318 Ready-to-use pencil erasers packed as stationery were treated as consumer goods under the import policy, so a licence for synthetic rubber products did not cover them; confiscation under Section 111(d) of the Customs Act, 1962 was upheld. On valuation, the declared assessable value could not be rejected because the Department did not show a clear, objective and lawful basis for re-determination, and the invoice and freight discrepancies were insufficient to dislodge the transaction value; the under-valuation charge was not established. The result was partial relief, with the import-control finding sustained but the valuation enhancement and corresponding penalties reduced. Case-Laws Customs Wed, 01 May 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=81318