https://www.taxtmi.com/caselaws?id=444316 The Tribunal found that there was no misdeclaration of the transaction value of the vessel MV Basil at the time of importation. Consequently, the confiscation order under Section 111 of the Customs Act, 1962, and the penalties imposed under Sections 112(a) & (b) and 114AA of the same Act were set aside. All appeals were allowed in favor of the appellant. en-us Wed, 11 Oct 2023 00:00:00 +0530 Fri, 13 Oct 2023 08:59:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444316 The Tribunal found that there was no misdeclaration of the transaction value of the vessel MV Basil at the time of importation. Consequently, the confiscation order under Section 111 of the Customs Act, 1962, and the penalties imposed under Sections 112(a) & (b) and 114AA of the same Act were set aside. All appeals were allowed in favor of the appellant. Case-Laws Customs Wed, 11 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444316