https://www.taxtmi.com/caselaws?id=208285 Import of a vehicle in breach of licensing restrictions justified confiscation, because a returning resident could import without licence only where the vehicle had been in use for at least one year before return and that condition was not met. Absolute confiscation was nevertheless found unnecessary on the facts, so redemption on payment of fine was permitted. The declared customs value was rejected because the invoice and later explanation were unreliable, and the assessable value was re-determined using list price, discount, depreciation and related charges under the valuation rules. Penalty was also sustained because the import was unlawful and undervaluation accompanied the clearance attempt. en-us Mon, 21 Nov 2011 00:00:00 +0530 Fri, 06 Jan 2012 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208285 Import of a vehicle in breach of licensing restrictions justified confiscation, because a returning resident could import without licence only where the vehicle had been in use for at least one year before return and that condition was not met. Absolute confiscation was nevertheless found unnecessary on the facts, so redemption on payment of fine was permitted. The declared customs value was rejected because the invoice and later explanation were unreliable, and the assessable value was re-determined using list price, discount, depreciation and related charges under the valuation rules. Penalty was also sustained because the import was unlawful and undervaluation accompanied the clearance attempt. Case-Laws Customs Mon, 21 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208285