https://www.taxtmi.com/caselaws?id=84303 Contemporaneous quotations for identical imported goods and surrounding circumstances rendered the declared invoice value unreliable, so customs authorities could reject transaction value and determine assessable value sequentially under the Customs (Valuation) Rules, 1988; the enhanced valuation was upheld. Once gross undervaluation was established, confiscation of the goods and redemption fine were justified, and the fine was not excessive. The unexplained undervaluation also supported an inference of duty evasion, so the penalty on the importer was sustained as proportionate. en-us Mon, 05 Jun 1995 00:00:00 +0530 Thu, 21 Jul 2011 11:22:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84303 Contemporaneous quotations for identical imported goods and surrounding circumstances rendered the declared invoice value unreliable, so customs authorities could reject transaction value and determine assessable value sequentially under the Customs (Valuation) Rules, 1988; the enhanced valuation was upheld. Once gross undervaluation was established, confiscation of the goods and redemption fine were justified, and the fine was not excessive. The unexplained undervaluation also supported an inference of duty evasion, so the penalty on the importer was sustained as proportionate. Case-Laws Customs Mon, 05 Jun 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84303