https://www.taxtmi.com/caselaws?id=766022 CESTAT Chennai allowed the appeal regarding valuation of imported black pepper. The tribunal held that the proper officer incorrectly rejected the declared value and wrongly treated the goods as prohibited. The goods were not absolutely prohibited under DGFT Notification No. 21/2015-2020 as imports were permitted if CIF value exceeded Rs. 500/- per kg. The tribunal found no justification for re-determining the transaction value and ruled that penalties under Sections 112 and 114AA of Customs Act, 1962 were unwarranted. The original declared assessable value was upheld. en-us Fri, 14 Feb 2025 00:00:00 +0530 Sat, 15 Feb 2025 08:00:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766022 CESTAT Chennai allowed the appeal regarding valuation of imported black pepper. The tribunal held that the proper officer incorrectly rejected the declared value and wrongly treated the goods as prohibited. The goods were not absolutely prohibited under DGFT Notification No. 21/2015-2020 as imports were permitted if CIF value exceeded Rs. 500/- per kg. The tribunal found no justification for re-determining the transaction value and ruled that penalties under Sections 112 and 114AA of Customs Act, 1962 were unwarranted. The original declared assessable value was upheld. Case-Laws Customs Fri, 14 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766022