https://www.taxtmi.com/caselaws?id=86356 A valuation finding based on alleged misdeclaration and under-invoicing could not be sustained where the seized documents, expert report, grading dispute and identity of the goods were not properly assessed, so confiscation of the imported goods and redemption fine were set aside and the matter remanded for fresh adjudication. Foreign currency recovered from the premises was, however, upheld as liable to confiscation because the earliest admission of possession was accepted and the later explanation was treated as an afterthought. Penalty was set aside for reconsideration in light of the remand on the valuation issue. en-us Fri, 17 Jan 1997 00:00:00 +0530 Wed, 24 Aug 2011 12:43:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86356 A valuation finding based on alleged misdeclaration and under-invoicing could not be sustained where the seized documents, expert report, grading dispute and identity of the goods were not properly assessed, so confiscation of the imported goods and redemption fine were set aside and the matter remanded for fresh adjudication. Foreign currency recovered from the premises was, however, upheld as liable to confiscation because the earliest admission of possession was accepted and the later explanation was treated as an afterthought. Penalty was set aside for reconsideration in light of the remand on the valuation issue. Case-Laws Customs Fri, 17 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86356