https://www.taxtmi.com/caselaws?id=122658 Declared customs value may be rejected where contemporaneous comparable imports and surrounding evidence show gross undervaluation, and enhancement under the Customs Valuation Rules is then justified for the anamorphic lenses. By contrast, value enhancement for the Jimmy Jib cranes and the Angenieux HR 25-250 mm lens was not sustained because the record lacked item-specific evidentiary support of the same strength. Confiscability was maintained, but redemption fine and penalties were reduced in view of the circumstances and the period the goods remained with the department; duty confirmation on the upheld enhancement was retained. en-us Tue, 17 Jul 2007 00:00:00 +0530 Thu, 16 Aug 2012 13:07:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122658 Declared customs value may be rejected where contemporaneous comparable imports and surrounding evidence show gross undervaluation, and enhancement under the Customs Valuation Rules is then justified for the anamorphic lenses. By contrast, value enhancement for the Jimmy Jib cranes and the Angenieux HR 25-250 mm lens was not sustained because the record lacked item-specific evidentiary support of the same strength. Confiscability was maintained, but redemption fine and penalties were reduced in view of the circumstances and the period the goods remained with the department; duty confirmation on the upheld enhancement was retained. Case-Laws Customs Tue, 17 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122658