https://www.taxtmi.com/caselaws?id=767762 Declared transaction value of a tailor-made imported dredger may be rejected where material facts are suppressed and the price basis is not disclosed, and assessable value may then be redetermined sequentially on credible technical evidence, including a chartered engineer's report. Additional cutter head ladder length and a jet pump system were treated as accessories rather than integral parts because they only enhanced the dredger's capability, so classification under their respective headings was sustained. The conditional exemption under Notification No. 01/2011-CE was denied because the non-availment of Cenvat credit condition was not satisfied for the importer. Penalty under section 114A was confined to differential duty, while the separate penalty on the Managing Director under section 112(a) was removed. en-us Thu, 20 Mar 2025 00:00:00 +0530 Tue, 25 Mar 2025 08:48:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767762 Declared transaction value of a tailor-made imported dredger may be rejected where material facts are suppressed and the price basis is not disclosed, and assessable value may then be redetermined sequentially on credible technical evidence, including a chartered engineer's report. Additional cutter head ladder length and a jet pump system were treated as accessories rather than integral parts because they only enhanced the dredger's capability, so classification under their respective headings was sustained. The conditional exemption under Notification No. 01/2011-CE was denied because the non-availment of Cenvat credit condition was not satisfied for the importer. Penalty under section 114A was confined to differential duty, while the separate penalty on the Managing Director under section 112(a) was removed. Case-Laws Customs Thu, 20 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767762