https://www.taxtmi.com/caselaws?id=122600 The tribunal allowed the appeal, finding that the revision of the goods' value and imposition of penalty were not in accordance with the law. The revenue's reliance on the Chartered Engineer's assessment using local market value was deemed unacceptable due to lack of evidence of contemporaneous import. Citing the Customs Act and Valuation Rules, as well as the Eicher Tractors Ltd. case, the tribunal concluded that the appellant's corrected invoice rectified the initial error, leading to the appeal being allowed with consequential relief granted. en-us Tue, 05 Jun 2007 00:00:00 +0530 Tue, 14 Aug 2012 18:13:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122600 The tribunal allowed the appeal, finding that the revision of the goods' value and imposition of penalty were not in accordance with the law. The revenue's reliance on the Chartered Engineer's assessment using local market value was deemed unacceptable due to lack of evidence of contemporaneous import. Citing the Customs Act and Valuation Rules, as well as the Eicher Tractors Ltd. case, the tribunal concluded that the appellant's corrected invoice rectified the initial error, leading to the appeal being allowed with consequential relief granted. Case-Laws Customs Tue, 05 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122600