https://www.taxtmi.com/caselaws?id=165745 The Board set aside the Collector's orders confiscating 33 video cassette recorders under the Customs Act, valued at Rs. 1,59,347, for alleged undervaluation and lack of a valid license. The defense successfully argued that the importations were compliant with import license terms and Customs formalities, emphasizing the distinction between components for video cassette recorders and monitors. The Board found no evidence of undervaluation and concluded that the Collector's orders were unfounded. As a result, the Board allowed the appeal, directing the refund of the fine and penalty paid by the appellants. en-us Fri, 05 Mar 1982 00:00:00 +0530 Sat, 09 Aug 2014 10:12:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165745 The Board set aside the Collector's orders confiscating 33 video cassette recorders under the Customs Act, valued at Rs. 1,59,347, for alleged undervaluation and lack of a valid license. The defense successfully argued that the importations were compliant with import license terms and Customs formalities, emphasizing the distinction between components for video cassette recorders and monitors. The Board found no evidence of undervaluation and concluded that the Collector's orders were unfounded. As a result, the Board allowed the appeal, directing the refund of the fine and penalty paid by the appellants. Case-Laws Customs Fri, 05 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165745