https://www.taxtmi.com/caselaws?id=52335 Imported goods found to be old, used and rusted were treated as waste and scrap rather than usable silicon steel strips, so no specific import licence was required and the declared description was not false. On that classification, enhancement of assessable value on the basis of contemporaneous strip imports was unsustainable because the declared transaction value was not rebutted by independent evidence. The waste-and-scrap classification also supported availability of the exemption under Notification No. 17/2001-Cus., while commission and landing charges remained includible in assessable value. Confiscation, redemption fine and penalty based on the contrary classification could not be sustained. en-us Tue, 04 Nov 2003 00:00:00 +0530 Tue, 05 Oct 2010 12:15:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52335 Imported goods found to be old, used and rusted were treated as waste and scrap rather than usable silicon steel strips, so no specific import licence was required and the declared description was not false. On that classification, enhancement of assessable value on the basis of contemporaneous strip imports was unsustainable because the declared transaction value was not rebutted by independent evidence. The waste-and-scrap classification also supported availability of the exemption under Notification No. 17/2001-Cus., while commission and landing charges remained includible in assessable value. Confiscation, redemption fine and penalty based on the contrary classification could not be sustained. Case-Laws Customs Tue, 04 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52335