https://www.taxtmi.com/caselaws?id=51833 The court upheld the Commissioner's decision regarding the under-valuation of imported goods, confiscation, and penalty imposition. The appellants' arguments on denial of natural justice were dismissed. The court found the comparison of prices for stock lot goods to be inappropriate and upheld the methodology of valuation for Citizen CT 500 calculators. However, the court questioned the valuation method for other goods and criticized the determination of prices based on market value percentages without proper assessment. Orders of confiscation for certain goods were vacated, with penalties reduced. en-us Tue, 11 Mar 2003 00:00:00 +0530 Tue, 28 Sep 2010 16:54:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51833 The court upheld the Commissioner's decision regarding the under-valuation of imported goods, confiscation, and penalty imposition. The appellants' arguments on denial of natural justice were dismissed. The court found the comparison of prices for stock lot goods to be inappropriate and upheld the methodology of valuation for Citizen CT 500 calculators. However, the court questioned the valuation method for other goods and criticized the determination of prices based on market value percentages without proper assessment. Orders of confiscation for certain goods were vacated, with penalties reduced. Case-Laws Customs Tue, 11 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51833