https://www.taxtmi.com/caselaws?id=207673 Imported defective or secondary steel goods cannot be valued on the basis of prime material prices unless the department first establishes valid and convincing reasons to reject the declared transaction value. On the facts, misdeclaration of the entire consignment as "slabs" instead of "plates" was not proved conclusively, so confiscation on that ground was set aside. The re-determined assessable value and differential duty were also held unsustainable because the declared value had not been properly displaced. However, the portion found on chemical analysis to be alloy steel remained liable to confiscation, with the redemption fine and penalty reduced to reflect the limited nature of the infraction. en-us Tue, 08 Mar 2011 00:00:00 +0530 Wed, 21 Dec 2011 09:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207673 Imported defective or secondary steel goods cannot be valued on the basis of prime material prices unless the department first establishes valid and convincing reasons to reject the declared transaction value. On the facts, misdeclaration of the entire consignment as "slabs" instead of "plates" was not proved conclusively, so confiscation on that ground was set aside. The re-determined assessable value and differential duty were also held unsustainable because the declared value had not been properly displaced. However, the portion found on chemical analysis to be alloy steel remained liable to confiscation, with the redemption fine and penalty reduced to reflect the limited nature of the infraction. Case-Laws Customs Tue, 08 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207673