https://www.taxtmi.com/caselaws?id=180056 The High Court upheld the Tribunal's decision, dismissing the Revenue's appeal. The Tribunal had set aside the confiscation of VHS cassettes under the Customs Act, noting the genuine nature of the export transaction supported by proper documentation and foreign remittance. The Court found no contravention of statutory provisions and affirmed the Tribunal's ruling, emphasizing the inclusion of intellectual property rights in the valuation of the goods. Penalties under section 114 were also set aside as there was no evidence of illegal exportation. en-us Fri, 06 Feb 2015 00:00:00 +0530 Tue, 03 May 2016 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180056 The High Court upheld the Tribunal's decision, dismissing the Revenue's appeal. The Tribunal had set aside the confiscation of VHS cassettes under the Customs Act, noting the genuine nature of the export transaction supported by proper documentation and foreign remittance. The Court found no contravention of statutory provisions and affirmed the Tribunal's ruling, emphasizing the inclusion of intellectual property rights in the valuation of the goods. Penalties under section 114 were also set aside as there was no evidence of illegal exportation. Case-Laws Customs Fri, 06 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180056