https://www.taxtmi.com/caselaws?id=83579 Misdescribed and under-invoiced VCR parts supported by incomplete documentation justified rejection of the declared invoice values and reassessment under the customs valuation framework on the basis of the best available information. Imports treated as restricted and not covered by the relevant REP licences were held liable to confiscation and penalty, because the surrounding circumstances indicated an arrangement for complete VCR kits rather than lawful separate imports. The majority also permitted re-export while the goods remained under customs control, subject to payment of redemption fine and penalty, and the appeals failed on merits. en-us Tue, 06 Sep 1994 00:00:00 +0530 Thu, 14 Jul 2011 12:53:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83579 Misdescribed and under-invoiced VCR parts supported by incomplete documentation justified rejection of the declared invoice values and reassessment under the customs valuation framework on the basis of the best available information. Imports treated as restricted and not covered by the relevant REP licences were held liable to confiscation and penalty, because the surrounding circumstances indicated an arrangement for complete VCR kits rather than lawful separate imports. The majority also permitted re-export while the goods remained under customs control, subject to payment of redemption fine and penalty, and the appeals failed on merits. Case-Laws Customs Tue, 06 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83579