https://www.taxtmi.com/caselaws?id=109674 The Tribunal affirmed the Collector's decision to enhance the assessable value of imported goods, rejecting the declared value in favor of higher prices from contemporaneous imports. The appeal challenging the valuation was dismissed, emphasizing the significance of evidence from similar imports in determining value. The application of Customs Valuation Rules was analyzed, with the Tribunal supporting the Collector's invocation of Rule 6 over Rule 5. Penalties imposed on the appellants were reduced, but the decision to enhance the value to US $42.50 per piece FOB, along with confiscation of goods, was upheld. en-us Mon, 17 Oct 1994 00:00:00 +0530 Sat, 19 Jan 2013 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109674 The Tribunal affirmed the Collector's decision to enhance the assessable value of imported goods, rejecting the declared value in favor of higher prices from contemporaneous imports. The appeal challenging the valuation was dismissed, emphasizing the significance of evidence from similar imports in determining value. The application of Customs Valuation Rules was analyzed, with the Tribunal supporting the Collector's invocation of Rule 6 over Rule 5. Penalties imposed on the appellants were reduced, but the decision to enhance the value to US $42.50 per piece FOB, along with confiscation of goods, was upheld. Case-Laws Customs Mon, 17 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109674