https://www.taxtmi.com/caselaws?id=261187 Declared transaction value for old and used imported monitors and computer parts cannot be rejected or enhanced merely on suspicion or on a Chartered Engineer's valuation opinion; tangible evidence of under-valuation is required, and absent such material the enhancement is unjustified. In relation to second-hand goods imported without the required licence, redemption fine and penalty may still be moderated to reasonable levels having regard to the nature of the goods and the circumstances of import; here the Tribunal applied reduced benchmarks of 10% redemption fine and 5% penalty on assessed value. The import-related lapse was not disturbed. en-us Wed, 24 Sep 2014 00:00:00 +0530 Sat, 04 Jul 2015 07:55:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261187 Declared transaction value for old and used imported monitors and computer parts cannot be rejected or enhanced merely on suspicion or on a Chartered Engineer's valuation opinion; tangible evidence of under-valuation is required, and absent such material the enhancement is unjustified. In relation to second-hand goods imported without the required licence, redemption fine and penalty may still be moderated to reasonable levels having regard to the nature of the goods and the circumstances of import; here the Tribunal applied reduced benchmarks of 10% redemption fine and 5% penalty on assessed value. The import-related lapse was not disturbed. Case-Laws Customs Wed, 24 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261187