https://www.taxtmi.com/caselaws?id=789638 Declared value may be rejected where imported goods are misdeclared in description, quantity and valuation, and a voluntary, unretracted admission by the importer supports re-determination of assessable value on the basis of similar goods when identical-goods data is unavailable. The importer remains bound to declare the correct quantity, description and assessable value, and reliance on a supplier's mistake does not displace that duty. Where misdeclaration is established and reassessment is accepted, confiscation of the goods, redemption fine and penalty under customs law are justified. en-us Fri, 10 Apr 2026 00:00:00 +0530 Sat, 11 Apr 2026 08:53:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789638 Declared value may be rejected where imported goods are misdeclared in description, quantity and valuation, and a voluntary, unretracted admission by the importer supports re-determination of assessable value on the basis of similar goods when identical-goods data is unavailable. The importer remains bound to declare the correct quantity, description and assessable value, and reliance on a supplier's mistake does not displace that duty. Where misdeclaration is established and reassessment is accepted, confiscation of the goods, redemption fine and penalty under customs law are justified. Case-Laws Customs Fri, 10 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789638