https://www.taxtmi.com/caselaws?id=115381 Where the relevant cost is ascertainable for air-imported goods, freight under Rule 9(2) of the Customs Valuation Rules is capped at 20% of the FOB value. On that basis, enhancement of value beyond the cap was not justified. The explanation for the invoice entry was accepted, and the finding that the import of second-hand capital goods was for actual use, without contravention of the EXIM policy or Handbook of Procedure, negatived any basis for misdeclaration. Confiscation and penalty were therefore unsustainable, and the impugned order was set aside with consequential relief. en-us Wed, 18 May 2005 00:00:00 +0530 Tue, 29 May 2012 11:58:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115381 Where the relevant cost is ascertainable for air-imported goods, freight under Rule 9(2) of the Customs Valuation Rules is capped at 20% of the FOB value. On that basis, enhancement of value beyond the cap was not justified. The explanation for the invoice entry was accepted, and the finding that the import of second-hand capital goods was for actual use, without contravention of the EXIM policy or Handbook of Procedure, negatived any basis for misdeclaration. Confiscation and penalty were therefore unsustainable, and the impugned order was set aside with consequential relief. Case-Laws Customs Wed, 18 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115381