https://www.taxtmi.com/caselaws?id=119592 The tribunal set aside the lower appellate authority's decision to accept the transaction value without considering the impact of misdeclaration on the value of imported goods. It upheld the penalty due to lack of challenge by the assessee but found the decision to vacate the redemption fine for want of margin of profit unsustainable. The tribunal remanded the case for reexamination, focusing on the valuation issue and redemption fine, ensuring the party's right to be heard. Confiscation and penalty were maintained. en-us Wed, 12 Apr 2006 00:00:00 +0530 Thu, 12 Jul 2012 10:51:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119592 The tribunal set aside the lower appellate authority's decision to accept the transaction value without considering the impact of misdeclaration on the value of imported goods. It upheld the penalty due to lack of challenge by the assessee but found the decision to vacate the redemption fine for want of margin of profit unsustainable. The tribunal remanded the case for reexamination, focusing on the valuation issue and redemption fine, ensuring the party's right to be heard. Confiscation and penalty were maintained. Case-Laws Customs Wed, 12 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119592