https://www.taxtmi.com/caselaws?id=409846 The Tribunal modified the provisional release conditions for Elvance and Sedna, requiring them to execute bonds and provide security deposits. The Tribunal found discrepancies in the determination of the transaction value of imported goods and the calculation of differential duty and penalties. It emphasized the need for procedural fairness and adherence to guidelines for provisional release under Section 110A of the Customs Act. The appeals were allowed, and the goods were to be released upon compliance with the revised conditions set by the Tribunal. en-us Fri, 16 Jul 2021 00:00:00 +0530 Tue, 22 Feb 2022 16:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409846 The Tribunal modified the provisional release conditions for Elvance and Sedna, requiring them to execute bonds and provide security deposits. The Tribunal found discrepancies in the determination of the transaction value of imported goods and the calculation of differential duty and penalties. It emphasized the need for procedural fairness and adherence to guidelines for provisional release under Section 110A of the Customs Act. The appeals were allowed, and the goods were to be released upon compliance with the revised conditions set by the Tribunal. Case-Laws Customs Fri, 16 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409846