https://www.taxtmi.com/caselaws?id=45376 The Supreme Court remanded the case involving the classification and valuation of imported goods under the Customs Act and Project Imports Regulations. The Court directed the Tribunal to reassess the value of the imported equipment, specifically addressing the under-valuation allegation. The Tribunal's decision to reduce the penalty imposed on the appellant was upheld, with the duty liability and penalty amounts remaining capped. The case was sent back to the Tribunal for further evaluation within six months, with the appellant's bank guarantee and deposit to be maintained until the Tribunal's decision. en-us Wed, 16 Feb 2000 00:00:00 +0530 Wed, 15 May 2019 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=45376 The Supreme Court remanded the case involving the classification and valuation of imported goods under the Customs Act and Project Imports Regulations. The Court directed the Tribunal to reassess the value of the imported equipment, specifically addressing the under-valuation allegation. The Tribunal's decision to reduce the penalty imposed on the appellant was upheld, with the duty liability and penalty amounts remaining capped. The case was sent back to the Tribunal for further evaluation within six months, with the appellant's bank guarantee and deposit to be maintained until the Tribunal's decision. Case-Laws Customs Wed, 16 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=45376