https://www.taxtmi.com/caselaws?id=52897 A post-adjudication corrigendum that changed the EXIM Policy basis for confiscation and penalty was held invalid because it was a substantive alteration, not a clerical correction, and the customs authority had no review power after becoming functus officio; issuing it without notice also breached natural justice. The enhancement of value based solely on a Chartered Engineer's certificate was rejected because the certificate gave no reliable valuation method, did not identify item-wise values, and did not establish market price or depreciation basis. The confiscation, penalty, and enhanced valuation were set aside because the prescribed valuation sequence for rejecting transaction value was not properly followed. en-us Fri, 28 May 2004 00:00:00 +0530 Sat, 15 Jun 2024 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52897 A post-adjudication corrigendum that changed the EXIM Policy basis for confiscation and penalty was held invalid because it was a substantive alteration, not a clerical correction, and the customs authority had no review power after becoming functus officio; issuing it without notice also breached natural justice. The enhancement of value based solely on a Chartered Engineer's certificate was rejected because the certificate gave no reliable valuation method, did not identify item-wise values, and did not establish market price or depreciation basis. The confiscation, penalty, and enhanced valuation were set aside because the prescribed valuation sequence for rejecting transaction value was not properly followed. Case-Laws Customs Fri, 28 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52897