https://www.taxtmi.com/caselaws?id=94017 The Tribunal upheld the valuation of imported goods at US$ 1700 per MT, determining them to be prime grade MMM instead of regenerated 2nd grade as declared. The appeal challenging the dropping of proceedings against the respondents was dismissed due to valuation discrepancies. The timing of the review order was found to be within the limitation period, rejecting the importer's objection. The Tribunal accepted US$ 1700 per MT as the assessable value based on comparisons with goods imported by another company. The mis-declaration of goods led to the confirmation of duty demand and imposition of a penalty of Rs. 40,00,000 under Section 112(a) of the Customs Act. en-us Thu, 24 Aug 2000 00:00:00 +0530 Fri, 18 Nov 2011 14:39:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94017 The Tribunal upheld the valuation of imported goods at US$ 1700 per MT, determining them to be prime grade MMM instead of regenerated 2nd grade as declared. The appeal challenging the dropping of proceedings against the respondents was dismissed due to valuation discrepancies. The timing of the review order was found to be within the limitation period, rejecting the importer's objection. The Tribunal accepted US$ 1700 per MT as the assessable value based on comparisons with goods imported by another company. The mis-declaration of goods led to the confirmation of duty demand and imposition of a penalty of Rs. 40,00,000 under Section 112(a) of the Customs Act. Case-Laws Customs Thu, 24 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94017