https://www.taxtmi.com/caselaws?id=98100 A declared transaction value of imported goods cannot be rejected and enhanced merely on the basis of a quotation unless supported by evidence of contemporaneous imports of the same or similar goods at the quoted price; on that reasoning, the declared value was accepted. Confiscation for unauthorised import was maintained because that challenge was not pressed. However, where penalty and redemption fine had been imposed on a composite basis for both unauthorised import and undervaluation, and the undervaluation ground failed, the penalty and fine required fresh determination. The matter was remanded for reconsideration of those amounts in light of the unauthorised import and detention-related circumstances. en-us Wed, 03 Nov 1999 00:00:00 +0530 Thu, 19 Jan 2012 12:01:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98100 A declared transaction value of imported goods cannot be rejected and enhanced merely on the basis of a quotation unless supported by evidence of contemporaneous imports of the same or similar goods at the quoted price; on that reasoning, the declared value was accepted. Confiscation for unauthorised import was maintained because that challenge was not pressed. However, where penalty and redemption fine had been imposed on a composite basis for both unauthorised import and undervaluation, and the undervaluation ground failed, the penalty and fine required fresh determination. The matter was remanded for reconsideration of those amounts in light of the unauthorised import and detention-related circumstances. Case-Laws Customs Wed, 03 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98100