https://www.taxtmi.com/caselaws?id=117012 Imported goods that were old and used serviceable carbide tips, and not waste or scrap, were treated as outside the stated import policy, supporting confiscation under Section 111(d) of the Customs Act. The declared transaction value could not be rejected for best judgment valuation without a reasoned basis for discarding the transaction-value method under the valuation rules, and misdeclaration of value was not established. As confiscation was sustained only on the import-policy ground, the redemption fine and penalties linked to the valuation allegation required reduction, giving the importer only partial relief. en-us Wed, 21 Sep 2005 00:00:00 +0530 Tue, 19 Jun 2012 15:32:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117012 Imported goods that were old and used serviceable carbide tips, and not waste or scrap, were treated as outside the stated import policy, supporting confiscation under Section 111(d) of the Customs Act. The declared transaction value could not be rejected for best judgment valuation without a reasoned basis for discarding the transaction-value method under the valuation rules, and misdeclaration of value was not established. As confiscation was sustained only on the import-policy ground, the redemption fine and penalties linked to the valuation allegation required reduction, giving the importer only partial relief. Case-Laws Customs Wed, 21 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117012