https://www.taxtmi.com/caselaws?id=766958 Declared import value may be rejected where recovered contemporaneous documents, physical examination results and surrounding evidence establish misdeclaration of description and value, justifying redetermination under the valuation rules, confiscation and penalty, subject to reduction of the monetary consequences. For consignments already finally assessed, reassessment cannot rest on general inference, diary entries or documents relating to different goods; specific, reliable evidence is required before the declared value can be discarded. The note therefore distinguishes between a provisionally assessed consignment supported by direct evidence of undervaluation and the remaining Bills of Entry, for which demands could not be sustained on non-specific material or mere suspicion. en-us Tue, 18 Feb 2025 00:00:00 +0530 Thu, 06 Mar 2025 12:21:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766958 Declared import value may be rejected where recovered contemporaneous documents, physical examination results and surrounding evidence establish misdeclaration of description and value, justifying redetermination under the valuation rules, confiscation and penalty, subject to reduction of the monetary consequences. For consignments already finally assessed, reassessment cannot rest on general inference, diary entries or documents relating to different goods; specific, reliable evidence is required before the declared value can be discarded. The note therefore distinguishes between a provisionally assessed consignment supported by direct evidence of undervaluation and the remaining Bills of Entry, for which demands could not be sustained on non-specific material or mere suspicion. Case-Laws Customs Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766958