https://www.taxtmi.com/caselaws?id=449163 Rubber Processing Oil was held classifiable under Chapter Heading 27101990, because the Revenue's laboratory report was found unreliable where the BIS method was not followed and independent evidence supported the assessee. Declared value could not be enhanced merely on consent letters or statements; where transaction value is doubted, the prescribed statutory valuation process and contemporaneous evidence must be used, so the enhancement was set aside. The alleged country-of-origin misdeclaration did not sustain confiscation or penalty on the facts, and redemption fine and personal penalties also failed once the classification and valuation findings were accepted. en-us Thu, 01 Feb 2024 00:00:00 +0530 Tue, 06 Feb 2024 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449163 Rubber Processing Oil was held classifiable under Chapter Heading 27101990, because the Revenue's laboratory report was found unreliable where the BIS method was not followed and independent evidence supported the assessee. Declared value could not be enhanced merely on consent letters or statements; where transaction value is doubted, the prescribed statutory valuation process and contemporaneous evidence must be used, so the enhancement was set aside. The alleged country-of-origin misdeclaration did not sustain confiscation or penalty on the facts, and redemption fine and personal penalties also failed once the classification and valuation findings were accepted. Case-Laws Customs Thu, 01 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449163