https://www.taxtmi.com/caselaws?id=221581 Contemporaneous import data and surrounding circumstances can justify rejection of declared transaction value where undervaluation is otherwise established. A prior loading of value at clearance does not bar later proceedings under the Customs Act, 1962 if fresh material shows misdeclaration or suppression, and the absence of direct proof of extra remittance is not fatal. Isolated discrepancies in foreign export documents, an unproved retraction, and denial of cross-examination did not displace the documentary case. The undervaluation finding sustained the duty demand and supported penalty under section 114A, with only limited relief on reduced penalty payment within the stipulated period. en-us Thu, 28 Jun 2012 00:00:00 +0530 Tue, 19 Mar 2013 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221581 Contemporaneous import data and surrounding circumstances can justify rejection of declared transaction value where undervaluation is otherwise established. A prior loading of value at clearance does not bar later proceedings under the Customs Act, 1962 if fresh material shows misdeclaration or suppression, and the absence of direct proof of extra remittance is not fatal. Isolated discrepancies in foreign export documents, an unproved retraction, and denial of cross-examination did not displace the documentary case. The undervaluation finding sustained the duty demand and supported penalty under section 114A, with only limited relief on reduced penalty payment within the stipulated period. Case-Laws Customs Thu, 28 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221581