https://www.taxtmi.com/caselaws?id=328688 Declared transaction value for imported old used worn clothing may be rejected only where the proper officer records reasons to doubt its truth or accuracy. Any subsequent valuation must follow the sequential method prescribed under the Customs Valuation Rules, 2007; unsupported reliance on NIDB data, internal alerts, or generalised market values does not satisfy that scheme. The valuation demands were annulled. Redemption fine and penalty remained payable only for the admitted foreign trade restriction violation, and were moderated with reference to the declared value: fine at 15% and penalty under section 112(a) at 10%. en-us Thu, 02 Jun 2016 00:00:00 +0530 Mon, 14 Nov 2016 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328688 Declared transaction value for imported old used worn clothing may be rejected only where the proper officer records reasons to doubt its truth or accuracy. Any subsequent valuation must follow the sequential method prescribed under the Customs Valuation Rules, 2007; unsupported reliance on NIDB data, internal alerts, or generalised market values does not satisfy that scheme. The valuation demands were annulled. Redemption fine and penalty remained payable only for the admitted foreign trade restriction violation, and were moderated with reference to the declared value: fine at 15% and penalty under section 112(a) at 10%. Case-Laws Customs Thu, 02 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328688