https://www.taxtmi.com/caselaws?id=398360 Undervaluation of imported marble could not be established through an Italian Note-Verbale that merely sought legal assistance and did not constitute conclusive evidence under the Customs Act. A differential-duty pre-deposit recorded as receivable from Customs was made under protest and was not an admission of undervaluation. Rule 12 of the Customs Valuation Rules required reasonable doubt and an opportunity for the importer to provide further information before rejection of declared transaction value; those procedures were not followed. In the absence of credible evidence, including proof of financial flowback, re-determination of value and penalties for undervaluation were unsustainable. en-us Fri, 11 Sep 2020 00:00:00 +0530 Mon, 14 Sep 2020 09:23:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398360 Undervaluation of imported marble could not be established through an Italian Note-Verbale that merely sought legal assistance and did not constitute conclusive evidence under the Customs Act. A differential-duty pre-deposit recorded as receivable from Customs was made under protest and was not an admission of undervaluation. Rule 12 of the Customs Valuation Rules required reasonable doubt and an opportunity for the importer to provide further information before rejection of declared transaction value; those procedures were not followed. In the absence of credible evidence, including proof of financial flowback, re-determination of value and penalties for undervaluation were unsustainable. Case-Laws Customs Fri, 11 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398360