https://www.taxtmi.com/caselaws?id=268339 Customs valuation disputes require the sequential statutory valuation method to be followed, and adverse material such as contemporaneous import data and market enquiry reports must be disclosed before reliance is placed on them. The text states that Customs Preventive officers can investigate suspected undervaluation and issue demand and confiscation proceedings as independent action under customs law. It also notes that provisional release under bond affects confiscation and redemption fine, while dual penalties on both a proprietorship concern and its proprietor are not permissible. Where valuation is redetermined without disclosure of material and without following the prescribed method, the valuation and consequential liability require fresh adjudication. en-us Mon, 07 Sep 2015 00:00:00 +0530 Tue, 24 Nov 2015 23:28:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268339 Customs valuation disputes require the sequential statutory valuation method to be followed, and adverse material such as contemporaneous import data and market enquiry reports must be disclosed before reliance is placed on them. The text states that Customs Preventive officers can investigate suspected undervaluation and issue demand and confiscation proceedings as independent action under customs law. It also notes that provisional release under bond affects confiscation and redemption fine, while dual penalties on both a proprietorship concern and its proprietor are not permissible. Where valuation is redetermined without disclosure of material and without following the prescribed method, the valuation and consequential liability require fresh adjudication. Case-Laws Customs Mon, 07 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268339