Appellants Misdeclared Goods as "Rejects"; Rule 7 Valuation Upheld as Neither Arbitrary Nor Illegal.

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....Valuation of goods - Misdeclaration of export goods - the appellants sold the goods of prime quality mis-declaring the same as “rejects” and the same was sold to the related company UIL. It has been found that the UIL sold the goods at a higher rate. Therefore, the valuation ordered to be done under Rule 7 on the basis of the same cannot be said to be arbitrary and/or illegal. - SC....