https://www.taxtmi.com/caselaws?id=380251 Declared invoice value of imported empty containers was rejected because it did not reflect the real value under the one-way lease arrangement, and the substantiated replacement cost was accepted for customs valuation; the duty demand with interest was therefore sustained. Confiscation was not justified because the goods were not prohibited, had been assessed and cleared on payment of duty, and the import documents were not shown to be forged or manipulated, so the ingredients of Section 111 were not met. As confiscation failed, redemption fine and penalties could not survive and were set aside. en-us Mon, 14 Jan 2019 00:00:00 +0530 Sat, 14 Mar 2020 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380251 Declared invoice value of imported empty containers was rejected because it did not reflect the real value under the one-way lease arrangement, and the substantiated replacement cost was accepted for customs valuation; the duty demand with interest was therefore sustained. Confiscation was not justified because the goods were not prohibited, had been assessed and cleared on payment of duty, and the import documents were not shown to be forged or manipulated, so the ingredients of Section 111 were not met. As confiscation failed, redemption fine and penalties could not survive and were set aside. Case-Laws Customs Mon, 14 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380251