https://www.taxtmi.com/caselaws?id=772910 CESTAT Bangalore held that 19 antique items imported from Switzerland could not be considered prohibited goods liable to absolute confiscation under Section 111(d) of Customs Act, as customs authorities failed to verify alleged export law violations with Swiss authorities. While transaction value rejection was upheld due to misdeclaration and incorrect classification, the valuation methodology was flawed. The Commissioner erred by relying solely on expert committee opinion without considering appellant's comparable international auction prices as required under CVR Rules 4 & 5. Matter remanded for reassessment of value considering auction prices of similar goods. en-us Tue, 25 Mar 2025 00:00:00 +0530 Mon, 16 Jun 2025 08:38:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772910 CESTAT Bangalore held that 19 antique items imported from Switzerland could not be considered prohibited goods liable to absolute confiscation under Section 111(d) of Customs Act, as customs authorities failed to verify alleged export law violations with Swiss authorities. While transaction value rejection was upheld due to misdeclaration and incorrect classification, the valuation methodology was flawed. The Commissioner erred by relying solely on expert committee opinion without considering appellant's comparable international auction prices as required under CVR Rules 4 & 5. Matter remanded for reassessment of value considering auction prices of similar goods. Case-Laws Customs Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772910