https://www.taxtmi.com/caselaws?id=784828 Transaction value was re-examined under Valuation Rule 4 because declared fabric thickness (0.62 mm) was materially different from actual thickness (0.740.81 mm), giving reasonable doubt about declared value; the contemporaneous identical imports showed a lower transaction value of US$1.80 per metre, so the assessable value must be re-determined at US$1.80 per metre and duty recalculated. The importers misdescription of goods amounted to mis-declaration attracting confiscation for misdescription; redemption on payment of a modest fine was upheld. Penalties imposed on the company and its director for incorrect valuation and related breaches were sustained but require recalculation proportional to the revised assessable value. en-us Mon, 12 Jan 2026 00:00:00 +0530 Tue, 13 Jan 2026 08:29:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784828 Transaction value was re-examined under Valuation Rule 4 because declared fabric thickness (0.62 mm) was materially different from actual thickness (0.740.81 mm), giving reasonable doubt about declared value; the contemporaneous identical imports showed a lower transaction value of US$1.80 per metre, so the assessable value must be re-determined at US$1.80 per metre and duty recalculated. The importers misdescription of goods amounted to mis-declaration attracting confiscation for misdescription; redemption on payment of a modest fine was upheld. Penalties imposed on the company and its director for incorrect valuation and related breaches were sustained but require recalculation proportional to the revised assessable value. Case-Laws Customs Mon, 12 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784828