https://www.taxtmi.com/caselaws?id=81698 Customs valuation requires the Department to prove undervaluation with reliable contemporaneous evidence; remote quotations, unsupported market surveys and unproven comparison data are insufficient, so the declared invoice value is accepted. Classification follows the statutory definition of synthetic rubber: where retesting shows compliance with the elongation and recovery requirements in Chapter Note 4 to Chapter 40, the goods are treated as synthetic rubber products under Heading 40.16 rather than plastic or polyurethane articles. Imports made without a valid licence may still attract confiscation for breach of import control restrictions, but the monetary consequences may be moderated where valuation and description objections fail. en-us Wed, 04 Mar 1992 00:00:00 +0530 Tue, 28 Jun 2011 12:47:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=81698 Customs valuation requires the Department to prove undervaluation with reliable contemporaneous evidence; remote quotations, unsupported market surveys and unproven comparison data are insufficient, so the declared invoice value is accepted. Classification follows the statutory definition of synthetic rubber: where retesting shows compliance with the elongation and recovery requirements in Chapter Note 4 to Chapter 40, the goods are treated as synthetic rubber products under Heading 40.16 rather than plastic or polyurethane articles. Imports made without a valid licence may still attract confiscation for breach of import control restrictions, but the monetary consequences may be moderated where valuation and description objections fail. Case-Laws Customs Wed, 04 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=81698