https://www.taxtmi.com/caselaws?id=757711 Examination of the imported consignment showed a mixed cargo of heavy melting scrap and iron rods, and the importer did not dispute reassessment or valuation before the lower authorities. On that basis, classification of the rod portion as iron rods and valuation using contemporaneous prices were upheld, and the duty demand was confirmed. However, the accompanying documents and purchase order described the goods as scrap, and misdeclaration was not proved merely because iron rods were found on examination. Confiscation under Sections 111(l) and 111(m) of the Customs Act, 1962, together with redemption fine and penalty under Section 112(a), was therefore set aside, granting partial relief. en-us Fri, 23 Aug 2024 00:00:00 +0530 Fri, 30 Aug 2024 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757711 Examination of the imported consignment showed a mixed cargo of heavy melting scrap and iron rods, and the importer did not dispute reassessment or valuation before the lower authorities. On that basis, classification of the rod portion as iron rods and valuation using contemporaneous prices were upheld, and the duty demand was confirmed. However, the accompanying documents and purchase order described the goods as scrap, and misdeclaration was not proved merely because iron rods were found on examination. Confiscation under Sections 111(l) and 111(m) of the Customs Act, 1962, together with redemption fine and penalty under Section 112(a), was therefore set aside, granting partial relief. Case-Laws Customs Fri, 23 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757711