https://www.taxtmi.com/caselaws?id=120428 Imported goods were revalued under the Customs Act, 1962 and the Customs (Valuation) Rules, 1988 after the declared transaction values were not accepted in full. For the main imported system, contemporaneous imports of similar goods supported valuation under Rule 5 despite minor differences; extra items and peripherals were valued under Rule 8. For later imports sold in India, deductive valuation under Rule 7(1) was applied using sale prices and deductions. The Settlement Commission accepted the disclosure and settlement application, settled the duty liability, and granted immunity from penalty and prosecution, with interest payable only at the rate fixed in the order. en-us Mon, 25 Sep 2006 00:00:00 +0530 Thu, 19 Jul 2012 12:45:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120428 Imported goods were revalued under the Customs Act, 1962 and the Customs (Valuation) Rules, 1988 after the declared transaction values were not accepted in full. For the main imported system, contemporaneous imports of similar goods supported valuation under Rule 5 despite minor differences; extra items and peripherals were valued under Rule 8. For later imports sold in India, deductive valuation under Rule 7(1) was applied using sale prices and deductions. The Settlement Commission accepted the disclosure and settlement application, settled the duty liability, and granted immunity from penalty and prosecution, with interest payable only at the rate fixed in the order. Case-Laws Customs Mon, 25 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120428