https://www.taxtmi.com/caselaws?id=264932 The Tribunal ruled in favor of the appellant in a case involving the confiscation of seized goods under the Customs Act, 1962. The appellant successfully argued that the seized goods were part of the vessel purchased for ship breaking and had been declared based on the transaction value specified in the Memorandum of Agreement (MOA). The Tribunal found no mis-declaration by the appellant, upheld the transaction value declared in the MOA, and set aside the confiscation and fines imposed, emphasizing adherence to contractual terms and the importance of transaction value in customs cases. en-us Mon, 13 Apr 2015 00:00:00 +0530 Sat, 13 Feb 2016 13:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264932 The Tribunal ruled in favor of the appellant in a case involving the confiscation of seized goods under the Customs Act, 1962. The appellant successfully argued that the seized goods were part of the vessel purchased for ship breaking and had been declared based on the transaction value specified in the Memorandum of Agreement (MOA). The Tribunal found no mis-declaration by the appellant, upheld the transaction value declared in the MOA, and set aside the confiscation and fines imposed, emphasizing adherence to contractual terms and the importance of transaction value in customs cases. Case-Laws Customs Mon, 13 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264932