https://www.taxtmi.com/caselaws?id=101369 Imported video cassettes shifted from the restricted list to the free list could not be confiscated for want of an import licence, because no licence was required once the item became freely importable; the redemption fine and penalty were therefore unsustainable. The declared invoice value also could not be rejected and enhanced on the basis of an allegedly identical import made about nine months earlier, because the comparison was not contemporaneous and no legally permissible ground for displacing transaction value was shown. On both issues, the importer succeeded and the impugned order was annulled. en-us Mon, 28 Jan 2002 00:00:00 +0530 Thu, 09 Feb 2012 15:39:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101369 Imported video cassettes shifted from the restricted list to the free list could not be confiscated for want of an import licence, because no licence was required once the item became freely importable; the redemption fine and penalty were therefore unsustainable. The declared invoice value also could not be rejected and enhanced on the basis of an allegedly identical import made about nine months earlier, because the comparison was not contemporaneous and no legally permissible ground for displacing transaction value was shown. On both issues, the importer succeeded and the impugned order was annulled. Case-Laws Customs Mon, 28 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101369