https://www.taxtmi.com/highlights?id=102068 Deliberate undervaluation of imported goods, when established by reliable documentary and electronic evidence corroborated by material on record, may support confiscation, redemption fine and penalties under the Customs Act. Post-detection payment of differential duty does not erase the completed contravention or extinguish penalty exposure, although it may mitigate the penalty quantum. A managing partner may incur separate personal liability where active involvement in import transactions and value misdeclaration is proved; this liability is independent of the partnership firm's penalty. The discussion concerns sustained penalties for undervaluation of imported furniture and refusal of complete waiver. en-us Sat, 25 Jul 2026 08:54:57 +0530 Sat, 25 Jul 2026 08:54:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=102068 Deliberate undervaluation of imported goods, when established by reliable documentary and electronic evidence corroborated by material on record, may support confiscation, redemption fine and penalties under the Customs Act. Post-detection payment of differential duty does not erase the completed contravention or extinguish penalty exposure, although it may mitigate the penalty quantum. A managing partner may incur separate personal liability where active involvement in import transactions and value misdeclaration is proved; this liability is independent of the partnership firm's penalty. The discussion concerns sustained penalties for undervaluation of imported furniture and refusal of complete waiver. Highlights Customs Sat, 25 Jul 2026 08:54:57 +0530 https://www.taxtmi.com/highlights?id=102068