https://www.taxtmi.com/caselaws?id=98950 When assessable value of imported goods was revised upward on the basis of identical imports and post-contract price movement, fine and penalty were not justified because the importer's transacted value was not doubted and its bona fides remained unchallenged. The mere enhancement of assessable value, without evidence of misdeclaration, bad faith, or other culpable conduct, was insufficient to sustain penal consequences. The Revenue's objection to the omission of fine and penalty was therefore rejected. en-us Fri, 05 May 2000 00:00:00 +0530 Tue, 24 Jan 2012 16:43:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98950 When assessable value of imported goods was revised upward on the basis of identical imports and post-contract price movement, fine and penalty were not justified because the importer's transacted value was not doubted and its bona fides remained unchallenged. The mere enhancement of assessable value, without evidence of misdeclaration, bad faith, or other culpable conduct, was insufficient to sustain penal consequences. The Revenue's objection to the omission of fine and penalty was therefore rejected. Case-Laws Customs Fri, 05 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98950