https://www.taxtmi.com/caselaws?id=761762 Imported marble and mosaic were treated as compliant once the importer accepted enhancement of value to the notified minimum CIF price and cleared the goods on that basis. On that footing, confiscation could not be sustained, and the connected redemption fine and penalty were set aside. The valuation enhancement was, however, maintained for duty purposes, so the duty liability on the enhanced value remained undisturbed. The stated principle is that acceptance of reassessed value under the import policy and Customs Valuation Rules does not, by itself, justify penal action merely because the original declared value was below the policy threshold. en-us Thu, 14 Nov 2024 00:00:00 +0530 Thu, 14 Nov 2024 16:44:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761762 Imported marble and mosaic were treated as compliant once the importer accepted enhancement of value to the notified minimum CIF price and cleared the goods on that basis. On that footing, confiscation could not be sustained, and the connected redemption fine and penalty were set aside. The valuation enhancement was, however, maintained for duty purposes, so the duty liability on the enhanced value remained undisturbed. The stated principle is that acceptance of reassessed value under the import policy and Customs Valuation Rules does not, by itself, justify penal action merely because the original declared value was below the policy threshold. Case-Laws Customs Thu, 14 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761762