https://www.taxtmi.com/caselaws?id=797995 Customs penalties may arise from admitted import undervaluation where declared values are materially below values redetermined from investigation material and the differential duty is accepted. Penalty for improper importation applies when an act or omission makes goods liable to confiscation. Knowingly or intentionally filing Bills of Entry supported by undervalued invoices may also attract penalty for false or incorrect declarations; that provision extends to import transactions and is not limited to exports. Both penalties may operate concurrently, although the penalty for false declarations may be mitigated after considering the existing improper-importation penalty and relevant transactional circumstances. en-us Tue, 21 Jul 2026 00:00:00 +0530 Tue, 01 Sep 2026 08:26:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797995 Customs penalties may arise from admitted import undervaluation where declared values are materially below values redetermined from investigation material and the differential duty is accepted. Penalty for improper importation applies when an act or omission makes goods liable to confiscation. Knowingly or intentionally filing Bills of Entry supported by undervalued invoices may also attract penalty for false or incorrect declarations; that provision extends to import transactions and is not limited to exports. Both penalties may operate concurrently, although the penalty for false declarations may be mitigated after considering the existing improper-importation penalty and relevant transactional circumstances. Case-Laws Customs Tue, 21 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797995