https://www.taxtmi.com/caselaws?id=86961 The Appellate Tribunal CEGAT, Madras, upheld the lower authority's decision in a case involving the valuation of imported software and penalty for mis-declaration of value. The Tribunal found that the software's commercial value should be the assessable value under Section 14 of the Customs Act, 1962, rejecting the appellant's argument to split the value between the physical carrier and intellectual property. It affirmed the confiscation of goods, duty demand of Rs. 18,37,784, and a penalty of Rs. 1 Lakh, stating that the Department met its burden of proof and dismissing the appellant's bona fide belief defense. en-us Thu, 08 May 1997 00:00:00 +0530 Mon, 29 Aug 2011 16:04:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86961 The Appellate Tribunal CEGAT, Madras, upheld the lower authority's decision in a case involving the valuation of imported software and penalty for mis-declaration of value. The Tribunal found that the software's commercial value should be the assessable value under Section 14 of the Customs Act, 1962, rejecting the appellant's argument to split the value between the physical carrier and intellectual property. It affirmed the confiscation of goods, duty demand of Rs. 18,37,784, and a penalty of Rs. 1 Lakh, stating that the Department met its burden of proof and dismissing the appellant's bona fide belief defense. Case-Laws Customs Thu, 08 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86961