https://www.taxtmi.com/caselaws?id=364568 Whether confiscation, redemption fine, and penalty could be sustained on an allegation of overvaluation despite amendment of shipping bills before export was the dominant issue. The Tribunal held that once the export documents were amended and the goods were permitted to be exported, and the exporter had realized the full foreign inward remittance, the statutory basis for confiscation and consequential fine/penalty was absent. It further held that overvaluation was only presumptively alleged and could have been established only if export at the declared value had resulted in non-realization of proceeds to that extent. Revenue's appeal was dismissed. en-us Mon, 02 Jul 2018 00:00:00 +0530 Thu, 08 Jan 2026 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364568 Whether confiscation, redemption fine, and penalty could be sustained on an allegation of overvaluation despite amendment of shipping bills before export was the dominant issue. The Tribunal held that once the export documents were amended and the goods were permitted to be exported, and the exporter had realized the full foreign inward remittance, the statutory basis for confiscation and consequential fine/penalty was absent. It further held that overvaluation was only presumptively alleged and could have been established only if export at the declared value had resulted in non-realization of proceeds to that extent. Revenue's appeal was dismissed. Case-Laws Customs Mon, 02 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364568