https://www.taxtmi.com/caselaws?id=98533 Imported video cassettes were treated as freely importable under the applicable classification, and the Tribunal accepted that the foreign trade authority's classification decision was binding for customs purposes, so no import licence was required. On valuation, the declared invoice value was not rejected because the department's reliance on a comparable import involved a smaller quantity, while the present import was in much larger quantity and the explanation for the difference was accepted. No undervaluation was established, and the confiscation, redemption fine, and personal penalty were held unsustainable. en-us Thu, 24 May 2001 00:00:00 +0530 Fri, 20 Jan 2012 18:53:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98533 Imported video cassettes were treated as freely importable under the applicable classification, and the Tribunal accepted that the foreign trade authority's classification decision was binding for customs purposes, so no import licence was required. On valuation, the declared invoice value was not rejected because the department's reliance on a comparable import involved a smaller quantity, while the present import was in much larger quantity and the explanation for the difference was accepted. No undervaluation was established, and the confiscation, redemption fine, and personal penalty were held unsustainable. Case-Laws Customs Thu, 24 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98533