https://www.taxtmi.com/caselaws?id=343191 The Tribunal set aside the confiscation of rough diamonds for export, valued at Rs. 58.57 lakhs, due to discrepancies in valuation and non-compliance with its directions. It criticized the arbitrary exercise of power by the Commissioner of Customs, emphasizing adherence to procedural fairness and legal justifiability in customs valuation disputes. The judgment highlighted the importance of expert evaluation and compliance with statutory provisions, ultimately ruling the confiscation unjustified as there was no ban on diamond exports and no revenue involved in the dispute. en-us Thu, 08 Dec 2016 00:00:00 +0530 Wed, 07 Feb 2018 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343191 The Tribunal set aside the confiscation of rough diamonds for export, valued at Rs. 58.57 lakhs, due to discrepancies in valuation and non-compliance with its directions. It criticized the arbitrary exercise of power by the Commissioner of Customs, emphasizing adherence to procedural fairness and legal justifiability in customs valuation disputes. The judgment highlighted the importance of expert evaluation and compliance with statutory provisions, ultimately ruling the confiscation unjustified as there was no ban on diamond exports and no revenue involved in the dispute. Case-Laws Customs Thu, 08 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343191