https://www.taxtmi.com/caselaws?id=109880 Export-linked import conditions were treated as substantively satisfied where the computers were upgraded, re-engineered and exported, and the development authority accepted the activity as permitted processing; a bond omission referring to the specific item was only a procedural lapse and did not support confiscation under Section 111(o) of the Customs Act, 1962. Alleged misdeclaration of value also failed where the declared transaction value was supported by the commercial arrangement and buyer category, and the importer-consignee relationship alone did not displace that price; confiscation under Section 111(m) therefore could not stand, and the connected penalty under Section 112 also failed. en-us Thu, 12 Jun 2003 00:00:00 +0530 Thu, 12 Apr 2012 16:13:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109880 Export-linked import conditions were treated as substantively satisfied where the computers were upgraded, re-engineered and exported, and the development authority accepted the activity as permitted processing; a bond omission referring to the specific item was only a procedural lapse and did not support confiscation under Section 111(o) of the Customs Act, 1962. Alleged misdeclaration of value also failed where the declared transaction value was supported by the commercial arrangement and buyer category, and the importer-consignee relationship alone did not displace that price; confiscation under Section 111(m) therefore could not stand, and the connected penalty under Section 112 also failed. Case-Laws Customs Thu, 12 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109880