https://www.taxtmi.com/caselaws?id=93277 Imported knitting machine valuation was upheld where inspection showed the goods were a brand new machine, not a second-hand reconditioned one as declared. The accompanying 480 cams were also found in the packing but omitted from the invoice, justifying separate valuation by the Department. On the record, the invoice description and declared value were incorrect, and the reassessment adopted by the Commissioner was supported by the evidence. The finding of misdeclaration was sustained, and confiscation, redemption fine, and penalty were maintained. en-us Thu, 10 Feb 2000 00:00:00 +0530 Wed, 09 Nov 2011 16:09:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=93277 Imported knitting machine valuation was upheld where inspection showed the goods were a brand new machine, not a second-hand reconditioned one as declared. The accompanying 480 cams were also found in the packing but omitted from the invoice, justifying separate valuation by the Department. On the record, the invoice description and declared value were incorrect, and the reassessment adopted by the Commissioner was supported by the evidence. The finding of misdeclaration was sustained, and confiscation, redemption fine, and penalty were maintained. Case-Laws Customs Thu, 10 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=93277