https://www.taxtmi.com/caselaws?id=83152 The Tribunal allowed the appeal, setting aside fines and penalties imposed on the appellants. It directed consideration of actual freight and insurance charges from the UK for valuation. The appellants were found to have acted bona fide, and the depreciation allowed by the adjudicating authority was deemed reasonable. The Tribunal noted that penalties imposed on both the proprietary concern and the proprietor were unjustified, ultimately ruling in favor of the appellants on all issues raised. en-us Fri, 03 Jan 1992 00:00:00 +0530 Mon, 11 Jul 2011 13:13:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83152 The Tribunal allowed the appeal, setting aside fines and penalties imposed on the appellants. It directed consideration of actual freight and insurance charges from the UK for valuation. The appellants were found to have acted bona fide, and the depreciation allowed by the adjudicating authority was deemed reasonable. The Tribunal noted that penalties imposed on both the proprietary concern and the proprietor were unjustified, ultimately ruling in favor of the appellants on all issues raised. Case-Laws Customs Fri, 03 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83152