https://www.taxtmi.com/article/detailed?id=16349 Customs valuation disputes may arise where import declarations reflect an incorrect freight or invoice base, resulting in a short levy under the valuation rules. The technical correctness of the assessable value must be distinguished from deliberate misstatement or suppression. Extended limitation under Section 28(4) requires proof of collusion, wilful misstatement, or suppression of facts, and penalties depend on the same elements. Where documents were filed before Customs and no intent to evade duty is shown, the exceptional extended period and consequential penalties are not justified. en-us Tue, 05 May 2026 09:11:10 +0530 Tue, 05 May 2026 09:11:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16349 Customs valuation disputes may arise where import declarations reflect an incorrect freight or invoice base, resulting in a short levy under the valuation rules. The technical correctness of the assessable value must be distinguished from deliberate misstatement or suppression. Extended limitation under Section 28(4) requires proof of collusion, wilful misstatement, or suppression of facts, and penalties depend on the same elements. Where documents were filed before Customs and no intent to evade duty is shown, the exceptional extended period and consequential penalties are not justified. Articles Customs - Import - Export - SEZ Tue, 05 May 2026 09:11:10 +0530 https://www.taxtmi.com/article/detailed?id=16349