https://www.taxtmi.com/caselaws?id=82531 The Tribunal dismissed the appeal, upholding the findings of the lower authority regarding undervaluation of imported electrical resistance wire. The appellant's attempt to evade customs duty by undervaluing the goods was found to be significant, leading to the imposition of a penalty of Rs. 5,00,000 and a redemption fine of Rs. 6,50,000. The Tribunal affirmed the correct ascertainment of the goods' value based on contemporaneous invoices, emphasizing compliance with the Customs Act and Valuation Rules. en-us Tue, 30 Mar 1993 00:00:00 +0530 Tue, 05 Jul 2011 17:03:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82531 The Tribunal dismissed the appeal, upholding the findings of the lower authority regarding undervaluation of imported electrical resistance wire. The appellant's attempt to evade customs duty by undervaluing the goods was found to be significant, leading to the imposition of a penalty of Rs. 5,00,000 and a redemption fine of Rs. 6,50,000. The Tribunal affirmed the correct ascertainment of the goods' value based on contemporaneous invoices, emphasizing compliance with the Customs Act and Valuation Rules. Case-Laws Customs Tue, 30 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82531