https://www.taxtmi.com/caselaws?id=99151 Assessable value of imported betel nuts was upheld at an enhanced level because a proximate contemporaneous import from the same country showed a higher invoice price, and the comparable import was not shown to be materially inapposite. The goods were also held liable to confiscation since betel nuts were treated as restricted imports and no import licence was produced, amounting to contravention of the import policy. However, the redemption fine and personal penalty were reduced because the case disclosed mitigating circumstances, including bona fide conduct and the absence of evidence on profit margin. en-us Fri, 25 Aug 2000 00:00:00 +0530 Wed, 25 Jan 2012 13:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99151 Assessable value of imported betel nuts was upheld at an enhanced level because a proximate contemporaneous import from the same country showed a higher invoice price, and the comparable import was not shown to be materially inapposite. The goods were also held liable to confiscation since betel nuts were treated as restricted imports and no import licence was produced, amounting to contravention of the import policy. However, the redemption fine and personal penalty were reduced because the case disclosed mitigating circumstances, including bona fide conduct and the absence of evidence on profit margin. Case-Laws Customs Fri, 25 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99151