https://www.taxtmi.com/caselaws?id=396423 The Tribunal set aside the Order-in-Original confiscating LED TVs and imposing penalties under Sections 111(m) and 112(a) of the Customs Act, 1962. It found that the valuation of goods must comply with Section 14 of the Customs Act and the Customs Valuation Rules, rejecting the use of National Import Database (NIDB) data for valuation. The Tribunal emphasized adherence to statutory provisions and legal precedents, ultimately allowing the importer's appeal and dismissing the Department's appeal, reinforcing the importance of following prescribed valuation rules and procedures. en-us Tue, 17 Dec 2019 00:00:00 +0530 Sat, 04 Jul 2020 10:53:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396423 The Tribunal set aside the Order-in-Original confiscating LED TVs and imposing penalties under Sections 111(m) and 112(a) of the Customs Act, 1962. It found that the valuation of goods must comply with Section 14 of the Customs Act and the Customs Valuation Rules, rejecting the use of National Import Database (NIDB) data for valuation. The Tribunal emphasized adherence to statutory provisions and legal precedents, ultimately allowing the importer's appeal and dismissing the Department's appeal, reinforcing the importance of following prescribed valuation rules and procedures. Case-Laws Customs Tue, 17 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396423