https://www.taxtmi.com/caselaws?id=100226 The tribunal, following Customs Valuation Rules, adjusted the value of imported goods due to undervaluation for duty evasion. The declared value was deemed unreliable, leading to the adoption of a higher value based on similar imports. The tribunal referenced prices of comparable goods from a previous import to determine the correct value, rejecting the argument for accepting the transaction value. Consequently, duty demand was adjusted, and penalties were reduced, partially allowing the appeal and remanding the case for requantification of duty based on the revised value. en-us Fri, 03 Aug 2001 00:00:00 +0530 Tue, 31 Jan 2012 16:24:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100226 The tribunal, following Customs Valuation Rules, adjusted the value of imported goods due to undervaluation for duty evasion. The declared value was deemed unreliable, leading to the adoption of a higher value based on similar imports. The tribunal referenced prices of comparable goods from a previous import to determine the correct value, rejecting the argument for accepting the transaction value. Consequently, duty demand was adjusted, and penalties were reduced, partially allowing the appeal and remanding the case for requantification of duty based on the revised value. Case-Laws Customs Fri, 03 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100226