https://www.taxtmi.com/caselaws?id=286400 The Tribunal upheld the decision of the Commissioner of Customs (Appeals) regarding the valuation of imported wood veneers. The appellant's declared value was disputed, leading to an increase in valuation under Customs Valuation Rules. The appellant's failure to provide evidence supporting the declared value, coupled with acknowledgment of undervaluation, resulted in the rejection of the declared value. Due to the intention to evade duty through misdeclaration, confiscation of goods and imposition of a penalty were upheld under Sections 111 and 112 of the Customs Act, 1962. The appeal was dismissed, affirming the original authority's order. en-us Tue, 19 Mar 2019 00:00:00 +0530 Mon, 24 Feb 2020 18:08:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286400 The Tribunal upheld the decision of the Commissioner of Customs (Appeals) regarding the valuation of imported wood veneers. The appellant's declared value was disputed, leading to an increase in valuation under Customs Valuation Rules. The appellant's failure to provide evidence supporting the declared value, coupled with acknowledgment of undervaluation, resulted in the rejection of the declared value. Due to the intention to evade duty through misdeclaration, confiscation of goods and imposition of a penalty were upheld under Sections 111 and 112 of the Customs Act, 1962. The appeal was dismissed, affirming the original authority's order. Case-Laws Customs Tue, 19 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286400