https://www.taxtmi.com/caselaws?id=207930 Reliable market enquiry evidence and an un-retracted managerial statement supported the finding that the declared export value was artificially inflated, so the goods were liable to confiscation under customs valuation and export confiscation provisions. The explanation that no export incentive was intended and that FOB value had been realised did not displace the evidence of overvaluation in the shipping bills and supply chain. Although confiscation was sustained, the redemption fine and penalties were held excessive in light of the real value of the goods and individual culpability; they were reduced, and the penalty on the employee was set aside because no independent role in the overvaluation was established. en-us Wed, 02 Feb 2011 00:00:00 +0530 Thu, 17 Nov 2011 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207930 Reliable market enquiry evidence and an un-retracted managerial statement supported the finding that the declared export value was artificially inflated, so the goods were liable to confiscation under customs valuation and export confiscation provisions. The explanation that no export incentive was intended and that FOB value had been realised did not displace the evidence of overvaluation in the shipping bills and supply chain. Although confiscation was sustained, the redemption fine and penalties were held excessive in light of the real value of the goods and individual culpability; they were reduced, and the penalty on the employee was set aside because no independent role in the overvaluation was established. Case-Laws Customs Wed, 02 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207930