https://www.taxtmi.com/caselaws?id=52008 Imported goods consisting of secondary or defective sheets and cuttings, saleable as such, were held not to answer the description of ferrous waste and scrap or re-melting scrap under Heading 72.04; their essential character supported classification under Headings 72.08/72.09. On valuation, assessable value could not be enhanced in the absence of material displacing the declared transaction value, since misdeclaration alone did not establish undervaluation. As a result, the classification adopted by the department was sustained, while the value enhancement was set aside and the redemption fine and penalties were reduced. en-us Tue, 22 Jul 2003 00:00:00 +0530 Wed, 29 Sep 2010 17:26:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52008 Imported goods consisting of secondary or defective sheets and cuttings, saleable as such, were held not to answer the description of ferrous waste and scrap or re-melting scrap under Heading 72.04; their essential character supported classification under Headings 72.08/72.09. On valuation, assessable value could not be enhanced in the absence of material displacing the declared transaction value, since misdeclaration alone did not establish undervaluation. As a result, the classification adopted by the department was sustained, while the value enhancement was set aside and the redemption fine and penalties were reduced. Case-Laws Customs Tue, 22 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52008