https://www.taxtmi.com/caselaws?id=81694 Customs valuation of imported polyester webbing was upheld where comparable overseas quotations, suitably adjusted, supported rejection of the declared value under Section 14 of the Customs Act and the Valuation Rules. Additional customs duty as narrow woven fabric was not sustained because the record lacked a finding that the goods had the required selvedges and the tariff description was not otherwise established on the invoice and bill of entry. Penalties were also set aside, as the alleged undervaluation did not show the deliberate suppression needed to justify penal action. The valuation enhancement survived, but the duty demand and penalties failed. en-us Tue, 25 Feb 1992 00:00:00 +0530 Tue, 28 Jun 2011 12:30:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=81694 Customs valuation of imported polyester webbing was upheld where comparable overseas quotations, suitably adjusted, supported rejection of the declared value under Section 14 of the Customs Act and the Valuation Rules. Additional customs duty as narrow woven fabric was not sustained because the record lacked a finding that the goods had the required selvedges and the tariff description was not otherwise established on the invoice and bill of entry. Penalties were also set aside, as the alleged undervaluation did not show the deliberate suppression needed to justify penal action. The valuation enhancement survived, but the duty demand and penalties failed. Case-Laws Customs Tue, 25 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=81694