https://www.taxtmi.com/caselaws?id=35427 The Tribunal remanded the case involving an EOU for undeclared import of gear oil, directing reassessment of the oil's value based on market prices. The confiscation and penalty were overturned as there was no deliberate misdeclaration, citing precedents where proper declaration in the Bill of Entry led to vacating of charges. The appellants were granted an opportunity to present evidence for valuation, emphasizing fair assessment under Customs rules. en-us Tue, 23 Dec 2008 00:00:00 +0530 Fri, 05 Mar 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35427 The Tribunal remanded the case involving an EOU for undeclared import of gear oil, directing reassessment of the oil's value based on market prices. The confiscation and penalty were overturned as there was no deliberate misdeclaration, citing precedents where proper declaration in the Bill of Entry led to vacating of charges. The appellants were granted an opportunity to present evidence for valuation, emphasizing fair assessment under Customs rules. Case-Laws Customs Tue, 23 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35427