https://www.taxtmi.com/caselaws?id=764023 Declared import value cannot be rejected unless the department relies on reliable material and a legally sustainable valuation exercise. A Chartered Engineer's report that lacks particulars of comparable goods, comparison basis, quality parameters, source data, or justification for bypassing contemporaneous import or NIDB data is insufficient to support enhancement; in bulk imports, retail market prices alone do not justify reassessment. Penalties under customs law require proof of the statutory ingredients, including knowledge, suppression, abetment, false declaration, or intentional use of false documents. Where such independent evidence is absent, penalties on co-appellants cannot be sustained, and remaining valuation-related issues may require fresh adjudication. en-us Thu, 05 Dec 2024 00:00:00 +0530 Thu, 02 Jan 2025 08:13:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764023 Declared import value cannot be rejected unless the department relies on reliable material and a legally sustainable valuation exercise. A Chartered Engineer's report that lacks particulars of comparable goods, comparison basis, quality parameters, source data, or justification for bypassing contemporaneous import or NIDB data is insufficient to support enhancement; in bulk imports, retail market prices alone do not justify reassessment. Penalties under customs law require proof of the statutory ingredients, including knowledge, suppression, abetment, false declaration, or intentional use of false documents. Where such independent evidence is absent, penalties on co-appellants cannot be sustained, and remaining valuation-related issues may require fresh adjudication. Case-Laws Customs Thu, 05 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764023