https://www.taxtmi.com/caselaws?id=109021 Rule 10A of the Customs Valuation Rules was treated as applicable to imports made in May 2002 because it was already in force on the date of import, and the contrary view that the rule could not be invoked was found unsustainable. On that basis, the valuation adopted by the Additional Commissioner was restored. Once undervaluation and misdeclaration stood established and the enhanced valuation was maintained, confiscation and penalty were held to follow as consequential measures, with no basis shown to interfere with the penalty quantum. The appellate order was therefore displaced in material part and the original adjudication restored. en-us Tue, 08 Jul 2003 00:00:00 +0530 Thu, 05 Apr 2012 14:49:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109021 Rule 10A of the Customs Valuation Rules was treated as applicable to imports made in May 2002 because it was already in force on the date of import, and the contrary view that the rule could not be invoked was found unsustainable. On that basis, the valuation adopted by the Additional Commissioner was restored. Once undervaluation and misdeclaration stood established and the enhanced valuation was maintained, confiscation and penalty were held to follow as consequential measures, with no basis shown to interfere with the penalty quantum. The appellate order was therefore displaced in material part and the original adjudication restored. Case-Laws Customs Tue, 08 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109021