https://www.taxtmi.com/caselaws?id=352460 The Tribunal set aside the Commissioner's order, allowing the appeals filed by the appellants regarding the undervaluation of imported Polyester Spun Yarn from China. The Tribunal found the reliance on DRI alerts and proforma invoices insufficient for enhancing the value, emphasizing the necessity of contemporaneous import data for accurate valuation under the Customs Valuation Rules 2007. The penalties, confiscation of goods, and redemption fine imposed were overturned, highlighting the importance of concrete evidence in determining customs duty obligations. en-us Tue, 12 Dec 2017 00:00:00 +0530 Thu, 28 Feb 2019 16:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352460 The Tribunal set aside the Commissioner's order, allowing the appeals filed by the appellants regarding the undervaluation of imported Polyester Spun Yarn from China. The Tribunal found the reliance on DRI alerts and proforma invoices insufficient for enhancing the value, emphasizing the necessity of contemporaneous import data for accurate valuation under the Customs Valuation Rules 2007. The penalties, confiscation of goods, and redemption fine imposed were overturned, highlighting the importance of concrete evidence in determining customs duty obligations. Case-Laws Customs Tue, 12 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352460