https://www.taxtmi.com/caselaws?id=353335 The Tribunal allowed the appeals, setting aside the original order that upheld charges of misdeclaration and undervaluation of imported steel scrap. The Tribunal criticized the reliance on the Chartered Engineer's opinion, noting the lack of concrete evidence to support the valuation. The Managing Director admitted misdeclaration but disputed the suggested value, leading to the Tribunal's decision to annul the order and provide consequential relief. The matter was referred to a third member due to conflicting views among the Tribunal Members, emphasizing the importance of evidence and expert opinions in determining accurate valuations to avoid penalties and confiscation. en-us Tue, 12 Dec 2017 00:00:00 +0530 Tue, 02 Jan 2018 08:58:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353335 The Tribunal allowed the appeals, setting aside the original order that upheld charges of misdeclaration and undervaluation of imported steel scrap. The Tribunal criticized the reliance on the Chartered Engineer's opinion, noting the lack of concrete evidence to support the valuation. The Managing Director admitted misdeclaration but disputed the suggested value, leading to the Tribunal's decision to annul the order and provide consequential relief. The matter was referred to a third member due to conflicting views among the Tribunal Members, emphasizing the importance of evidence and expert opinions in determining accurate valuations to avoid penalties and confiscation. Case-Laws Customs Tue, 12 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353335