https://www.taxtmi.com/caselaws?id=198919 The Tribunal upheld the decision of the Department, rejecting the appellant's appeal regarding the valuation of imported Triglycidyl Isocyanurate (TGIC). The Tribunal supported the Department's adoption of the lowest price from comparable bills of entry for valuation, emphasizing the lack of evidence supporting the appellant's declared value. The Tribunal found the imposed fine and penalty proportionate to the CIF value, concluding that the valuation approach taken by Customs authorities was justified due to the specific nature of the product and the significant difference in values compared to similar imports from the same country during the relevant period. en-us Tue, 25 Apr 2017 00:00:00 +0530 Tue, 13 Feb 2018 06:22:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198919 The Tribunal upheld the decision of the Department, rejecting the appellant's appeal regarding the valuation of imported Triglycidyl Isocyanurate (TGIC). The Tribunal supported the Department's adoption of the lowest price from comparable bills of entry for valuation, emphasizing the lack of evidence supporting the appellant's declared value. The Tribunal found the imposed fine and penalty proportionate to the CIF value, concluding that the valuation approach taken by Customs authorities was justified due to the specific nature of the product and the significant difference in values compared to similar imports from the same country during the relevant period. Case-Laws Customs Tue, 25 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198919