https://www.taxtmi.com/caselaws?id=772443 CESTAT New Delhi allowed the appeal, setting aside the impugned order regarding valuation of imported Quick Recovery CDs. The tribunal held that customs authorities cannot re-determine value under residual provisions without first rejecting the declared transaction value following proper procedure under Rule 12 of 2007 Rules. The demand failed on limitation grounds as extended period invocation was unjustified - no suppression of facts occurred when importer truthfully declared transaction value. Confiscation under section 111(m) was unsustainable as importers need only declare known transaction values, not anticipate official re-determinations. All penalties under sections 112, 114A, and 114AA were set aside. en-us Fri, 06 Jun 2025 00:00:00 +0530 Mon, 09 Jun 2025 07:29:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772443 CESTAT New Delhi allowed the appeal, setting aside the impugned order regarding valuation of imported Quick Recovery CDs. The tribunal held that customs authorities cannot re-determine value under residual provisions without first rejecting the declared transaction value following proper procedure under Rule 12 of 2007 Rules. The demand failed on limitation grounds as extended period invocation was unjustified - no suppression of facts occurred when importer truthfully declared transaction value. Confiscation under section 111(m) was unsustainable as importers need only declare known transaction values, not anticipate official re-determinations. All penalties under sections 112, 114A, and 114AA were set aside. Case-Laws Customs Fri, 06 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772443