https://www.taxtmi.com/caselaws?id=235837 Second-hand photocopier machines imported after the operative restriction date were treated as restricted goods under the foreign trade policy framework, so import without a valid licence was impermissible. The declared transaction value was rejected because it was lower than contemporaneous import values and was not supported by reliable evidence; re-determination based on Chartered Engineer's report and NIDB data under the Customs Valuation Rules was upheld. On confiscation-related consequences, the redemption fine was maintained, while the penalty was reduced on proportionality considerations in light of the facts and past conduct. en-us Fri, 28 Jun 2013 00:00:00 +0530 Wed, 14 Aug 2013 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235837 Second-hand photocopier machines imported after the operative restriction date were treated as restricted goods under the foreign trade policy framework, so import without a valid licence was impermissible. The declared transaction value was rejected because it was lower than contemporaneous import values and was not supported by reliable evidence; re-determination based on Chartered Engineer's report and NIDB data under the Customs Valuation Rules was upheld. On confiscation-related consequences, the redemption fine was maintained, while the penalty was reduced on proportionality considerations in light of the facts and past conduct. Case-Laws Customs Fri, 28 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235837