https://www.taxtmi.com/caselaws?id=94798 A penalty imposed on a connected intermediary for alleged collusion in undervaluation could not survive once the underlying finding of undervaluation against the main importer was set aside and the declared value was accepted. The appellant's liability depended entirely on the same misdeclaration allegation that had formed the basis of the earlier order; once that foundation disappeared, no independent basis remained to sustain the penalty. The penalty was therefore set aside, and consequential relief followed. en-us Thu, 23 Sep 1999 00:00:00 +0530 Sat, 03 Dec 2011 18:17:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94798 A penalty imposed on a connected intermediary for alleged collusion in undervaluation could not survive once the underlying finding of undervaluation against the main importer was set aside and the declared value was accepted. The appellant's liability depended entirely on the same misdeclaration allegation that had formed the basis of the earlier order; once that foundation disappeared, no independent basis remained to sustain the penalty. The penalty was therefore set aside, and consequential relief followed. Case-Laws Central Excise Thu, 23 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94798