https://www.taxtmi.com/caselaws?id=107869 Imported goods described as scrap were found, on examination and supporting transit and origin documents, to be serviceable brass tubes and brass bushes. On that evidence, the declared description was rejected as misdeclaration, and the declared transaction value was treated as unreliable for customs assessment. The customs authorities' re-fixation of assessable value was upheld as reasonable on the record, and the resulting confiscation, redemption fine and penalty were maintained because they flowed from the misdeclaration and the value differential. en-us Tue, 24 Jun 2003 00:00:00 +0530 Tue, 27 Mar 2012 14:19:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107869 Imported goods described as scrap were found, on examination and supporting transit and origin documents, to be serviceable brass tubes and brass bushes. On that evidence, the declared description was rejected as misdeclaration, and the declared transaction value was treated as unreliable for customs assessment. The customs authorities' re-fixation of assessable value was upheld as reasonable on the record, and the resulting confiscation, redemption fine and penalty were maintained because they flowed from the misdeclaration and the value differential. Case-Laws Customs Tue, 24 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107869