https://www.taxtmi.com/caselaws?id=101272 Under-declaration of import value justified penalty where the importers failed to explain non-disclosure of the value of platinum sponge consumed in manufacturing the goods, leading to a lower declared value. The finding of undervaluation sustained the penalty. Enhancement of redemption fine and penalty was refused because the Revenue did not provide adequate grounds, including any stated margin of profit, and relied only on the general assertion that the amounts were low compared with the goods' value. en-us Thu, 03 Jan 2002 00:00:00 +0530 Thu, 09 Feb 2012 12:20:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101272 Under-declaration of import value justified penalty where the importers failed to explain non-disclosure of the value of platinum sponge consumed in manufacturing the goods, leading to a lower declared value. The finding of undervaluation sustained the penalty. Enhancement of redemption fine and penalty was refused because the Revenue did not provide adequate grounds, including any stated margin of profit, and relied only on the general assertion that the amounts were low compared with the goods' value. Case-Laws Customs Thu, 03 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101272