https://www.taxtmi.com/caselaws?id=50851 Contemporaneous import prices and market enquiries supported enhancement of the assessable value of imported PU leather cloth under the Customs Valuation Rules, 1988, where the goods were shown to be undervalued against comparable imports. The importer's acceptance of enhancement on the basis of departmental material reinforced the valuation finding, so the challenge to enhanced value failed. However, the surrounding facts, including the explanation for excess length and the basis for enhancement, did not fully justify punitive action, so the redemption fine and penalty were deleted. The appeals were thus partly allowed, with valuation sustained but the penal components set aside. en-us Tue, 04 Dec 2001 00:00:00 +0530 Fri, 17 Sep 2010 17:01:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50851 Contemporaneous import prices and market enquiries supported enhancement of the assessable value of imported PU leather cloth under the Customs Valuation Rules, 1988, where the goods were shown to be undervalued against comparable imports. The importer's acceptance of enhancement on the basis of departmental material reinforced the valuation finding, so the challenge to enhanced value failed. However, the surrounding facts, including the explanation for excess length and the basis for enhancement, did not fully justify punitive action, so the redemption fine and penalty were deleted. The appeals were thus partly allowed, with valuation sustained but the penal components set aside. Case-Laws Central Excise Tue, 04 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50851