https://www.taxtmi.com/caselaws?id=420712 Confiscatory and penal consequences under the Customs Act were found unsustainable where enhanced value rested only on the importer's voluntary statement and no deliberate undervaluation or misdeclaration was established. The importer had declared the goods on the supplier's description and accepted the revised value when the size discrepancy was noticed, but the record did not contain material evidence supporting a finding of intentional suppression. On those facts, the legal basis for redemption fine and penalty was not made out, and both were set aside. en-us Wed, 06 Apr 2022 00:00:00 +0530 Thu, 07 Apr 2022 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420712 Confiscatory and penal consequences under the Customs Act were found unsustainable where enhanced value rested only on the importer's voluntary statement and no deliberate undervaluation or misdeclaration was established. The importer had declared the goods on the supplier's description and accepted the revised value when the size discrepancy was noticed, but the record did not contain material evidence supporting a finding of intentional suppression. On those facts, the legal basis for redemption fine and penalty was not made out, and both were set aside. Case-Laws Customs Wed, 06 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420712