https://www.taxtmi.com/caselaws?id=54765 In a bonded-warehouse diamond export arrangement, sorting, grading and repacking with declared value addition was not treated as a sham merely because the consignments moved between related concerns, so confiscation for alleged misdeclaration and policy violation was not sustained. Because that alleged violation failed, the related penalties on the company and its Managing Director also fell away, especially where duty on the gold shortage had already been paid before notice. The duty issue on the gold shortage was not finally resolved on the existing record and was remanded for fresh examination and quantification after considering manufacturing loss and dust accumulation. en-us Wed, 26 Oct 2005 00:00:00 +0530 Fri, 22 Oct 2010 09:43:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54765 In a bonded-warehouse diamond export arrangement, sorting, grading and repacking with declared value addition was not treated as a sham merely because the consignments moved between related concerns, so confiscation for alleged misdeclaration and policy violation was not sustained. Because that alleged violation failed, the related penalties on the company and its Managing Director also fell away, especially where duty on the gold shortage had already been paid before notice. The duty issue on the gold shortage was not finally resolved on the existing record and was remanded for fresh examination and quantification after considering manufacturing loss and dust accumulation. Case-Laws Customs Wed, 26 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54765