https://www.taxtmi.com/caselaws?id=347251 Customs misdeclaration attracts penal consequences where the record shows knowledge of the imported goods and substitution of invoices, and later intimation does not cure the earlier false declaration. Penal liability does not extend to a high sea sale counterparty absent proof of knowledge, participation, or complicity in the misdeclaration. Rejection of declared value is sustainable where suppression and invoice substitution are shown, but enhanced assessable value must still be determined strictly under the prescribed valuation rules, with relied-upon material disclosed and a fair opportunity given before consequential fine and penalty are fixed. en-us Mon, 31 Jul 2017 00:00:00 +0530 Fri, 01 Sep 2017 07:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347251 Customs misdeclaration attracts penal consequences where the record shows knowledge of the imported goods and substitution of invoices, and later intimation does not cure the earlier false declaration. Penal liability does not extend to a high sea sale counterparty absent proof of knowledge, participation, or complicity in the misdeclaration. Rejection of declared value is sustainable where suppression and invoice substitution are shown, but enhanced assessable value must still be determined strictly under the prescribed valuation rules, with relied-upon material disclosed and a fair opportunity given before consequential fine and penalty are fixed. Case-Laws Customs Mon, 31 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347251