https://www.taxtmi.com/caselaws?id=53522 The Tribunal set aside the Commissioner of Customs' decision to confiscate pre-recorded cassettes exported by M/s. Globe Entertainments and impose penalties under the Customs Act, 1962. The Tribunal found that the exports were in compliance with agreements, and the declared value reflected the intellectual property value of the goods. As there was no violation of Customs Act provisions and no evidence of overvaluation for illicit motives, the confiscation and penalties were deemed unwarranted. The Tribunal allowed the appeals, emphasizing the significance of considering intellectual property value in export transactions involving non-dutiable goods. en-us Fri, 10 Dec 2004 00:00:00 +0530 Wed, 13 Oct 2010 16:57:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53522 The Tribunal set aside the Commissioner of Customs' decision to confiscate pre-recorded cassettes exported by M/s. Globe Entertainments and impose penalties under the Customs Act, 1962. The Tribunal found that the exports were in compliance with agreements, and the declared value reflected the intellectual property value of the goods. As there was no violation of Customs Act provisions and no evidence of overvaluation for illicit motives, the confiscation and penalties were deemed unwarranted. The Tribunal allowed the appeals, emphasizing the significance of considering intellectual property value in export transactions involving non-dutiable goods. Case-Laws Customs Fri, 10 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53522