https://www.taxtmi.com/caselaws?id=450983 The SC dismissed an appeal concerning undervaluation of imported camera stabilizer devices. The importer declared goods at different unit prices for identical/similar items with same model numbers. The Committee of Commissioners exercised powers under Section 129A(2) of Customs Act after 10 months, which was deemed reasonable considering COVID-19 pandemic delays and SC's extension of limitation periods. The original authority found Items 1 and 3 were identical goods and Item 2 was similar, discarding transaction value with cogent reasons for assessable value determination. Penalties under Sections 112(a) and 114AA were upheld. CESTAT's findings on undervaluation were affirmed with no error found in the approach taken. en-us Fri, 15 Mar 2024 00:00:00 +0530 Fri, 16 Aug 2024 14:13:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450983 The SC dismissed an appeal concerning undervaluation of imported camera stabilizer devices. The importer declared goods at different unit prices for identical/similar items with same model numbers. The Committee of Commissioners exercised powers under Section 129A(2) of Customs Act after 10 months, which was deemed reasonable considering COVID-19 pandemic delays and SC's extension of limitation periods. The original authority found Items 1 and 3 were identical goods and Item 2 was similar, discarding transaction value with cogent reasons for assessable value determination. Penalties under Sections 112(a) and 114AA were upheld. CESTAT's findings on undervaluation were affirmed with no error found in the approach taken. Case-Laws Customs Fri, 15 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450983