https://www.taxtmi.com/caselaws?id=173784 The tribunal ruled in favor of the appellant, determining the assessable value of steel wheels at &8377; 1219.32 per piece, reducing the redemption fine from &8377; 9 lakhs to &8377; 6 lakhs based on the differential duty amount, and reverting the penalty amount back to the original &8377; 1 lakh. The tribunal found the misdeclaration of goods but considered the lowest price among contemporaneous evidences for valuation, leading to adjustments in favor of the appellant. en-us Fri, 17 Oct 2014 00:00:00 +0530 Tue, 22 Sep 2015 14:43:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173784 The tribunal ruled in favor of the appellant, determining the assessable value of steel wheels at &8377; 1219.32 per piece, reducing the redemption fine from &8377; 9 lakhs to &8377; 6 lakhs based on the differential duty amount, and reverting the penalty amount back to the original &8377; 1 lakh. The tribunal found the misdeclaration of goods but considered the lowest price among contemporaneous evidences for valuation, leading to adjustments in favor of the appellant. Case-Laws Customs Fri, 17 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173784