https://www.taxtmi.com/caselaws?id=84954 Deterioration of imported goods and the importer's refusal to clear them meant the declared price could not be rejected without justification, especially where the importer asked the authorities to deal with the goods as deemed fit. On those facts, Section 23(2) of the Customs Act, 1962 was attracted, and the later offer to take the goods at a reduced price did not by itself support revaluation. Confiscation and penalty were also unsustainable because the basis for penal action failed once the declared value was accepted and no manipulation was shown. The customs orders were annulled. en-us Thu, 29 Feb 1996 00:00:00 +0530 Mon, 01 Aug 2011 17:33:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84954 Deterioration of imported goods and the importer's refusal to clear them meant the declared price could not be rejected without justification, especially where the importer asked the authorities to deal with the goods as deemed fit. On those facts, Section 23(2) of the Customs Act, 1962 was attracted, and the later offer to take the goods at a reduced price did not by itself support revaluation. Confiscation and penalty were also unsustainable because the basis for penal action failed once the declared value was accepted and no manipulation was shown. The customs orders were annulled. Case-Laws Customs Thu, 29 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84954