https://www.taxtmi.com/caselaws?id=97067 The Tribunal upheld the Commissioner's decision on the FOB value of garbage bags exported under the DEEC Scheme, determining a value lower than the declared amount due to suspicions of overvaluation. Despite allegations of misdeclaration and non-compliance with Customs Act and Foreign Trade regulations, no penalty was imposed as the full foreign exchange value was realized. The Tribunal found the Commissioner's valuation method reasonable, considering expenses and profit margins, and affirmed the decision, clarifying that Section 14 of the Customs Act does not apply to export goods. en-us Thu, 23 Nov 2000 00:00:00 +0530 Fri, 13 Jan 2012 18:22:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97067 The Tribunal upheld the Commissioner's decision on the FOB value of garbage bags exported under the DEEC Scheme, determining a value lower than the declared amount due to suspicions of overvaluation. Despite allegations of misdeclaration and non-compliance with Customs Act and Foreign Trade regulations, no penalty was imposed as the full foreign exchange value was realized. The Tribunal found the Commissioner's valuation method reasonable, considering expenses and profit margins, and affirmed the decision, clarifying that Section 14 of the Customs Act does not apply to export goods. Case-Laws Central Excise Thu, 23 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97067