https://www.taxtmi.com/caselaws?id=362337 Goods cleared for home consumption after final assessment were said to be outside retrospective confiscation for alleged misdeclaration of value unless the statutory scheme for duty recovery or prohibition was properly invoked. The article also states that transaction value cannot be rejected and replaced by an enhanced value unless the Customs Valuation Rules are followed sequentially and on legally reliable material. On the facts discussed, parallel transactions, test reports and other documents were found insufficient to prove undervaluation or falsity of documents, so confiscation and penalties were unsustainable. en-us Thu, 31 May 2018 00:00:00 +0530 Thu, 20 Jun 2019 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362337 Goods cleared for home consumption after final assessment were said to be outside retrospective confiscation for alleged misdeclaration of value unless the statutory scheme for duty recovery or prohibition was properly invoked. The article also states that transaction value cannot be rejected and replaced by an enhanced value unless the Customs Valuation Rules are followed sequentially and on legally reliable material. On the facts discussed, parallel transactions, test reports and other documents were found insufficient to prove undervaluation or falsity of documents, so confiscation and penalties were unsustainable. Case-Laws Customs Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362337