https://www.taxtmi.com/caselaws?id=89265 Declared value of exported printed circuit boards was rejected on market enquiry material and technical opinion showing the goods were worth far less than the export price; Rule 8(2)(ii) of the Customs (Valuation) Rules, 1988 was applied to value the goods by reference to the market price in India, and confiscation with drawback-related consequences was sustained. The penalty on Shri K.P. Singh was set aside because his direct involvement in the misdeclaration was not clearly established on the record. The personal penalty on Shri V.S. Raghvan was reduced to Rs. 25,000 because his role was not disbelieved, but he was not shown to be the direct beneficiary of the drawback claim. en-us Fri, 22 May 1998 00:00:00 +0530 Sat, 24 Sep 2011 14:42:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89265 Declared value of exported printed circuit boards was rejected on market enquiry material and technical opinion showing the goods were worth far less than the export price; Rule 8(2)(ii) of the Customs (Valuation) Rules, 1988 was applied to value the goods by reference to the market price in India, and confiscation with drawback-related consequences was sustained. The penalty on Shri K.P. Singh was set aside because his direct involvement in the misdeclaration was not clearly established on the record. The personal penalty on Shri V.S. Raghvan was reduced to Rs. 25,000 because his role was not disbelieved, but he was not shown to be the direct beneficiary of the drawback claim. Case-Laws Customs Fri, 22 May 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89265