https://www.taxtmi.com/caselaws?id=242578 The court upheld the authorities' decision on the valuation of diamond jewellery for customs duty purposes at 14,500 British Pounds, dismissing the petition challenging the penalty reduction and valuation. Confiscation and penalties were imposed under relevant sections of the Customs Act for misdeclaration and undeclaration of jewellery to evade customs duty. The court affirmed the orders of confiscation and redemption, finding no merit in the petitioners' contentions regarding valuation discrepancies and misrepresentation for VAT refund purposes. en-us Thu, 29 Aug 2013 00:00:00 +0530 Mon, 08 Sep 2014 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242578 The court upheld the authorities' decision on the valuation of diamond jewellery for customs duty purposes at 14,500 British Pounds, dismissing the petition challenging the penalty reduction and valuation. Confiscation and penalties were imposed under relevant sections of the Customs Act for misdeclaration and undeclaration of jewellery to evade customs duty. The court affirmed the orders of confiscation and redemption, finding no merit in the petitioners' contentions regarding valuation discrepancies and misrepresentation for VAT refund purposes. Case-Laws Customs Thu, 29 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242578