https://www.taxtmi.com/caselaws?id=106344 Customs authorities may treat imported goods as misdeclared where the bill of entry, invoice and packing documents do not accurately reflect quantity, description and value, and such discrepancy can justify confiscation under the Customs Act. The declared transaction value may be rejected when examination shows the goods differ materially from the stated description, and a comparable earlier import may be used as the basis for assessable value. Where the misdeclaration is found to be substantial and the revenue impact significant, redemption fine and penalty may be sustained as not excessive. en-us Wed, 22 May 2002 00:00:00 +0530 Tue, 13 Mar 2012 17:30:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106344 Customs authorities may treat imported goods as misdeclared where the bill of entry, invoice and packing documents do not accurately reflect quantity, description and value, and such discrepancy can justify confiscation under the Customs Act. The declared transaction value may be rejected when examination shows the goods differ materially from the stated description, and a comparable earlier import may be used as the basis for assessable value. Where the misdeclaration is found to be substantial and the revenue impact significant, redemption fine and penalty may be sustained as not excessive. Case-Laws Customs Wed, 22 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106344