https://www.taxtmi.com/caselaws?id=305430 The High Court of Patna upheld the Customs Excise and Gold (Control) Appellate Tribunal's decision that the confiscated betel nuts were not of foreign origin. The Court determined the refund amount to be Rs.21,33,500/- with compound interest at 6% per annum from the date of the Tribunal's decision. It rejected the customs authorities' argument for a lower auctioned sale price of Rs.3.64 lakhs, citing lack of evidence of a different market price or depreciation. The Court dismissed the appeal and affirmed the Writ Court's ruling on valuation and refund amount. en-us Fri, 20 Jul 2012 00:00:00 +0530 Sat, 03 Dec 2022 16:17:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305430 The High Court of Patna upheld the Customs Excise and Gold (Control) Appellate Tribunal's decision that the confiscated betel nuts were not of foreign origin. The Court determined the refund amount to be Rs.21,33,500/- with compound interest at 6% per annum from the date of the Tribunal's decision. It rejected the customs authorities' argument for a lower auctioned sale price of Rs.3.64 lakhs, citing lack of evidence of a different market price or depreciation. The Court dismissed the appeal and affirmed the Writ Court's ruling on valuation and refund amount. Case-Laws Customs Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305430