https://www.taxtmi.com/caselaws?id=340409 Rejection of declared import value under the Customs Valuation Rules requires reliable contemporaneous comparable data and a legally sustainable basis for comparison; in the absence of adequate details of the relied-upon imports and proper technical identification, substitution of value was not justified and the declared value had to be accepted. Where the valuation foundation fails, confiscation based on alleged undervaluation cannot be sustained. Penalty on a customs house agent under Section 112(a) of the Customs Act also fails when the predicate confiscation under Section 111 is not established and the agent's role is not shown to attract the provision. en-us Thu, 02 Feb 2017 00:00:00 +0530 Tue, 06 Feb 2018 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340409 Rejection of declared import value under the Customs Valuation Rules requires reliable contemporaneous comparable data and a legally sustainable basis for comparison; in the absence of adequate details of the relied-upon imports and proper technical identification, substitution of value was not justified and the declared value had to be accepted. Where the valuation foundation fails, confiscation based on alleged undervaluation cannot be sustained. Penalty on a customs house agent under Section 112(a) of the Customs Act also fails when the predicate confiscation under Section 111 is not established and the agent's role is not shown to attract the provision. Case-Laws Customs Thu, 02 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340409