https://www.taxtmi.com/caselaws?id=107855 Comparable contemporaneous imports of similar second-hand monitors were accepted as a proper basis for valuation because the imports were made within a short time span and were broadly similar in description and composition. The declared transaction value was therefore not accepted, and assessment was directed at the lower comparable value. The redemption fine and penalty were also reduced because the higher amounts were not supported by reasons or material showing the comparables were incorrect. The fine was cut from Rs. 8 lakhs to Rs. 1.10 lakhs, and the penalty from Rs. 2 lakhs to Rs. 25,000. en-us Fri, 15 Nov 2002 00:00:00 +0530 Tue, 27 Mar 2012 12:57:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107855 Comparable contemporaneous imports of similar second-hand monitors were accepted as a proper basis for valuation because the imports were made within a short time span and were broadly similar in description and composition. The declared transaction value was therefore not accepted, and assessment was directed at the lower comparable value. The redemption fine and penalty were also reduced because the higher amounts were not supported by reasons or material showing the comparables were incorrect. The fine was cut from Rs. 8 lakhs to Rs. 1.10 lakhs, and the penalty from Rs. 2 lakhs to Rs. 25,000. Case-Laws Customs Fri, 15 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107855