https://www.taxtmi.com/caselaws?id=420189 The Tribunal held that the valuation of LED panels must adhere to the transaction value declared in the bill of entry unless specific conditions for rejection are met. It found that the 'Collaborative Framework Agreement' did not conform to Customs Valuation Rules, leading to the rejection of the proposed duty re-determination. Additionally, the Tribunal ruled that the confiscation of goods and imposition of penalties were unjustified as the goods met certification standards and the declared transaction value was valid. Consequently, the appeal of the Revenue was dismissed, and the appeals of the appellant-importer and individuals were allowed. en-us Wed, 02 Mar 2022 00:00:00 +0530 Mon, 28 Mar 2022 21:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420189 The Tribunal held that the valuation of LED panels must adhere to the transaction value declared in the bill of entry unless specific conditions for rejection are met. It found that the 'Collaborative Framework Agreement' did not conform to Customs Valuation Rules, leading to the rejection of the proposed duty re-determination. Additionally, the Tribunal ruled that the confiscation of goods and imposition of penalties were unjustified as the goods met certification standards and the declared transaction value was valid. Consequently, the appeal of the Revenue was dismissed, and the appeals of the appellant-importer and individuals were allowed. Case-Laws Customs Wed, 02 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420189