https://www.taxtmi.com/caselaws?id=83063 Declared transaction value may be rejected on circumstantial evidence where the documentary trail does not reasonably support the invoice price and the imported goods differ materially from the description used for clearance; the revised assessable value was upheld. Import without valid licence coverage is unauthorised where the licensing record and subsequent cancellation for fraud and misrepresentation confirm that the goods were not covered; the import was liable to confiscation. Even where valuation and confiscation are sustained, redemption fine and penalty may be reduced if excessive on the facts; partial relief was granted on the penal quantum. en-us Mon, 14 Feb 1994 00:00:00 +0530 Sat, 09 Jul 2011 12:48:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83063 Declared transaction value may be rejected on circumstantial evidence where the documentary trail does not reasonably support the invoice price and the imported goods differ materially from the description used for clearance; the revised assessable value was upheld. Import without valid licence coverage is unauthorised where the licensing record and subsequent cancellation for fraud and misrepresentation confirm that the goods were not covered; the import was liable to confiscation. Even where valuation and confiscation are sustained, redemption fine and penalty may be reduced if excessive on the facts; partial relief was granted on the penal quantum. Case-Laws Central Excise Mon, 14 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83063