https://www.taxtmi.com/caselaws?id=1194 For stock reconciliation of duty-free imported diamonds, imports and exports must be verified against the import and export documents on a bill of entry and shipping bill basis, because quantity alone is insufficient where varieties and values differ. Subsequently produced diamonds may be accepted only if their weight and description match the import records; in this instance, some high value diamonds and broken diamonds were brought into reconciliation, while a few pieces remained unaccounted. Unaccounted diamonds and exports without proof of lawful import were treated as liable to confiscation, but additional penalties on the firm and partners were deleted after the principal penalty had been sustained. en-us Thu, 21 Dec 2006 00:00:00 +0530 Mon, 14 Apr 2008 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1194 For stock reconciliation of duty-free imported diamonds, imports and exports must be verified against the import and export documents on a bill of entry and shipping bill basis, because quantity alone is insufficient where varieties and values differ. Subsequently produced diamonds may be accepted only if their weight and description match the import records; in this instance, some high value diamonds and broken diamonds were brought into reconciliation, while a few pieces remained unaccounted. Unaccounted diamonds and exports without proof of lawful import were treated as liable to confiscation, but additional penalties on the firm and partners were deleted after the principal penalty had been sustained. Case-Laws Customs Thu, 21 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1194