https://www.taxtmi.com/caselaws?id=93808 The Appellate Tribunal CEGAT, New Delhi upheld the Additional Collector of Customs' valuation of Synthetic Industrial Diamond Power at US $0.20 per carat, rejecting the appellant's declared value of US $0.10 per carat. The Tribunal emphasized the significance of contemporaneous evidence, supporting the higher valuation based on evidence from multiple sources. Additionally, the Tribunal reduced the penalty imposed on the appellant from Rs. 25,000 to Rs. 5,000, considering the appellant's status as an actual user of the goods, highlighting the importance of proportionality in customs penalty assessments. en-us Fri, 04 Aug 2000 00:00:00 +0530 Thu, 17 Nov 2011 10:54:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=93808 The Appellate Tribunal CEGAT, New Delhi upheld the Additional Collector of Customs' valuation of Synthetic Industrial Diamond Power at US $0.20 per carat, rejecting the appellant's declared value of US $0.10 per carat. The Tribunal emphasized the significance of contemporaneous evidence, supporting the higher valuation based on evidence from multiple sources. Additionally, the Tribunal reduced the penalty imposed on the appellant from Rs. 25,000 to Rs. 5,000, considering the appellant's status as an actual user of the goods, highlighting the importance of proportionality in customs penalty assessments. Case-Laws Customs Fri, 04 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=93808