https://www.taxtmi.com/caselaws?id=464784 CESTAT allowed the appeal, reversing the confiscation and consequential penalties. The tribunal held that an exporter need only declare the transaction value known at filing of the Shipping Bill; reassessment and rejection of that value is the proper officer's power and cannot be anticipated by the exporter. Goods are liable for confiscation under s.113(i) only if they do not correspond to the value known to the exporter when filing. Because confiscation was set aside, the redemption fine (s.125) and penalty (s.114) were also quashed. en-us Thu, 10 Jul 2025 00:00:00 +0530 Fri, 14 Nov 2025 20:20:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464784 CESTAT allowed the appeal, reversing the confiscation and consequential penalties. The tribunal held that an exporter need only declare the transaction value known at filing of the Shipping Bill; reassessment and rejection of that value is the proper officer's power and cannot be anticipated by the exporter. Goods are liable for confiscation under s.113(i) only if they do not correspond to the value known to the exporter when filing. Because confiscation was set aside, the redemption fine (s.125) and penalty (s.114) were also quashed. Case-Laws Customs Thu, 10 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464784