https://www.taxtmi.com/caselaws?id=42741 An enhanced customs valuation based on best judgment must rest on a correct and reasonable reading of the evidence; here, the material did not support fixing the assessable value of the imported second-hand machines at Swiss Francs 63,500 per machine, so the enhancement was unsustainable. Once the declared invoice value was accepted, the foundation for alleging mis-declaration or under-valuation disappeared, and the fine imposed in lieu of confiscation under Section 111(m) of the Customs Act, 1962 could not survive. The revisional order was therefore set aside, with relief also extending to refund of amounts collected on that basis. en-us Tue, 11 Oct 1983 00:00:00 +0530 Mon, 14 Jun 2010 10:19:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=42741 An enhanced customs valuation based on best judgment must rest on a correct and reasonable reading of the evidence; here, the material did not support fixing the assessable value of the imported second-hand machines at Swiss Francs 63,500 per machine, so the enhancement was unsustainable. Once the declared invoice value was accepted, the foundation for alleging mis-declaration or under-valuation disappeared, and the fine imposed in lieu of confiscation under Section 111(m) of the Customs Act, 1962 could not survive. The revisional order was therefore set aside, with relief also extending to refund of amounts collected on that basis. Case-Laws Customs Tue, 11 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=42741