https://www.taxtmi.com/caselaws?id=751965 Imported aluminium scrap was held correctly re-classified from CTI 76020010 to CTI 76020090, and the declared value was lawfully rejected and re-determined under the Customs Valuation Rules using the residual method after comparable imports were unavailable. The goods were liable to confiscation for import without the required licence under the foreign trade restrictions, but denial of redemption was not justified on the record, so redemption on payment of fine was allowed. Penalty on the importer under section 112(a)(i) was sustained, the partner's separate penalty was set aside, and all penalties under section 114AA were deleted because there was no knowingly false declaration or document. en-us Mon, 29 Apr 2024 00:00:00 +0530 Wed, 01 May 2024 06:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751965 Imported aluminium scrap was held correctly re-classified from CTI 76020010 to CTI 76020090, and the declared value was lawfully rejected and re-determined under the Customs Valuation Rules using the residual method after comparable imports were unavailable. The goods were liable to confiscation for import without the required licence under the foreign trade restrictions, but denial of redemption was not justified on the record, so redemption on payment of fine was allowed. Penalty on the importer under section 112(a)(i) was sustained, the partner's separate penalty was set aside, and all penalties under section 114AA were deleted because there was no knowingly false declaration or document. Case-Laws Customs Mon, 29 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751965