https://www.taxtmi.com/caselaws?id=119556 Imported motor cycle parts could not be revalued on the basis of a local trader's domestic price note, because the Department produced no contemporaneous evidence to reject the declared transaction value under the Customs Act and the Customs Valuation Rules. The importer's catalogue prices also supported the declared value, so the attempted enhancement failed. The valuation exercise was further undermined because the trader whose statement supported the enhancement was not made available for cross-examination, breaching natural justice. Penalty was otherwise maintainable for admitted misdeclaration, but only one penalty could stand against a proprietary concern and its proprietor for the same default. en-us Mon, 03 Apr 2006 00:00:00 +0530 Wed, 11 Jul 2012 17:39:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119556 Imported motor cycle parts could not be revalued on the basis of a local trader's domestic price note, because the Department produced no contemporaneous evidence to reject the declared transaction value under the Customs Act and the Customs Valuation Rules. The importer's catalogue prices also supported the declared value, so the attempted enhancement failed. The valuation exercise was further undermined because the trader whose statement supported the enhancement was not made available for cross-examination, breaching natural justice. Penalty was otherwise maintainable for admitted misdeclaration, but only one penalty could stand against a proprietary concern and its proprietor for the same default. Case-Laws Customs Mon, 03 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119556