https://www.taxtmi.com/highlights?id=97843 Reassessment of assessable value based solely on an empanelled Chartered Engineer certificate was held impermissible where the sequential valuation steps under the Customs Valuation Rules, 2007 and adequate market evidence were not followed; the enhanced value was set aside and the declared value accepted. Imports of restricted MFD parts were not subject to absolute confiscation where authorisation was lacking; redemption was allowed with a fine fixed at 10% and a penalty fixed at 5% of the assessable value. Earlier precedent rejecting engineer-certificate-only enhancement and permitting redemption governed the outcome. en-us Thu, 19 Mar 2026 08:59:46 +0530 Thu, 19 Mar 2026 08:59:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97843 Reassessment of assessable value based solely on an empanelled Chartered Engineer certificate was held impermissible where the sequential valuation steps under the Customs Valuation Rules, 2007 and adequate market evidence were not followed; the enhanced value was set aside and the declared value accepted. Imports of restricted MFD parts were not subject to absolute confiscation where authorisation was lacking; redemption was allowed with a fine fixed at 10% and a penalty fixed at 5% of the assessable value. Earlier precedent rejecting engineer-certificate-only enhancement and permitting redemption governed the outcome. Highlights Customs Thu, 19 Mar 2026 08:59:46 +0530 https://www.taxtmi.com/highlights?id=97843