https://www.taxtmi.com/caselaws?id=752953 The Tribunal allowed the appeal, setting aside the confiscation and penalty under Sections 125 and 112(a)(ii) of the Customs Act, 1962. It determined that the appellant's value declaration, based on the supplier's proforma invoice, did not constitute intentional mis-declaration. The Chartered Engineer's assessment of the goods as used, which led to an enhanced value, did not result in duty liability. Consequently, the appellant's compliance with export obligations was not adversely affected, and the appeal was resolved favorably for the appellant. en-us Mon, 20 May 2024 00:00:00 +0530 Mon, 20 May 2024 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752953 The Tribunal allowed the appeal, setting aside the confiscation and penalty under Sections 125 and 112(a)(ii) of the Customs Act, 1962. It determined that the appellant's value declaration, based on the supplier's proforma invoice, did not constitute intentional mis-declaration. The Chartered Engineer's assessment of the goods as used, which led to an enhanced value, did not result in duty liability. Consequently, the appellant's compliance with export obligations was not adversely affected, and the appeal was resolved favorably for the appellant. Case-Laws Customs Mon, 20 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752953