https://www.taxtmi.com/caselaws?id=280555 Declared transaction value may be rejected where contemporaneous imports and market evidence show it does not reflect the ordinary import price, and the customs authorities may proceed sequentially under the valuation rules to reassess assessable value. Limited cross-examination does not amount to a breach of natural justice where the importer had notice of the material, some witnesses were examined, and no prejudice is shown from the remaining evidence. Once undervaluation and misdeclaration of value and quantity are established, the goods are liable to confiscation, and fine in lieu of confiscation, along with penalties on the firm and the connected individual, is sustainable. en-us Wed, 08 Mar 2006 00:00:00 +0530 Fri, 10 May 2019 15:09:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280555 Declared transaction value may be rejected where contemporaneous imports and market evidence show it does not reflect the ordinary import price, and the customs authorities may proceed sequentially under the valuation rules to reassess assessable value. Limited cross-examination does not amount to a breach of natural justice where the importer had notice of the material, some witnesses were examined, and no prejudice is shown from the remaining evidence. Once undervaluation and misdeclaration of value and quantity are established, the goods are liable to confiscation, and fine in lieu of confiscation, along with penalties on the firm and the connected individual, is sustainable. Case-Laws Customs Wed, 08 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280555