https://www.taxtmi.com/caselaws?id=126133 Misdeclaration of imported goods' description and quantity supported rejection of the declared transaction value where examination findings and the importer's senior manager's statement showed that secondary or defective CRGO steel sheets had been described differently to reduce duty. Comparable contemporaneous imports justified enhancement of value. Misdeclaration also attracted confiscation and penalties under the Customs Act; unretracted investigation statements supported liability of both the importer and the Custom House Agent. Redemption fine and penalties were reduced in light of the circumstances, while confiscation, revaluation and penal liability were sustained. en-us Wed, 01 Apr 2009 00:00:00 +0530 Fri, 02 Nov 2012 15:48:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126133 Misdeclaration of imported goods' description and quantity supported rejection of the declared transaction value where examination findings and the importer's senior manager's statement showed that secondary or defective CRGO steel sheets had been described differently to reduce duty. Comparable contemporaneous imports justified enhancement of value. Misdeclaration also attracted confiscation and penalties under the Customs Act; unretracted investigation statements supported liability of both the importer and the Custom House Agent. Redemption fine and penalties were reduced in light of the circumstances, while confiscation, revaluation and penal liability were sustained. Case-Laws Customs Wed, 01 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126133