https://www.taxtmi.com/caselaws?id=123455 Test reports showing the goods as Dupion Raw Silk, together with contemporaneous import evidence of a higher price, established misdeclaration in description and undervaluation. On that basis, confiscation and penalty were sustainable under the Customs Act, and proof of mens rea was not required. For valuation, the assessable value had to be determined by reference to contemporaneous imports of identical goods under the Customs Valuation Rules, 1988, and the lowest reliable comparable price was to be adopted. The duty liability was therefore required to be re-quantified on the lower contemporaneous value, while the findings on misdeclaration were upheld. en-us Thu, 13 Mar 2008 00:00:00 +0530 Fri, 14 Sep 2012 11:58:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123455 Test reports showing the goods as Dupion Raw Silk, together with contemporaneous import evidence of a higher price, established misdeclaration in description and undervaluation. On that basis, confiscation and penalty were sustainable under the Customs Act, and proof of mens rea was not required. For valuation, the assessable value had to be determined by reference to contemporaneous imports of identical goods under the Customs Valuation Rules, 1988, and the lowest reliable comparable price was to be adopted. The duty liability was therefore required to be re-quantified on the lower contemporaneous value, while the findings on misdeclaration were upheld. Case-Laws Customs Thu, 13 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123455