https://www.taxtmi.com/caselaws?id=1216 Customs valuation of imported copper and brass scrap must rest on genuine transaction value or reliable comparable imports, and not on arbitrary linkage to prime metal prices or fictitious bases. On the pending consignments, the enhanced valuation, confiscation, duty demand and penalty were set aside because the declared prices were supported by commercial records and comparable data. For cleared consignments, concluded assessments could not be reopened on a blanket basis without specific evidence showing falsity in the original declarations. Reassessment was sustained only for the specifically linked BICC consignments, where seized records established undervaluation on the civil standard of proof, and the differential duty and penalty were upheld to that limited extent. en-us Wed, 25 Jan 2006 00:00:00 +0530 Mon, 14 Apr 2008 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1216 Customs valuation of imported copper and brass scrap must rest on genuine transaction value or reliable comparable imports, and not on arbitrary linkage to prime metal prices or fictitious bases. On the pending consignments, the enhanced valuation, confiscation, duty demand and penalty were set aside because the declared prices were supported by commercial records and comparable data. For cleared consignments, concluded assessments could not be reopened on a blanket basis without specific evidence showing falsity in the original declarations. Reassessment was sustained only for the specifically linked BICC consignments, where seized records established undervaluation on the civil standard of proof, and the differential duty and penalty were upheld to that limited extent. Case-Laws Customs Wed, 25 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1216