Confiscation and penalty quashed for lack of evidence and procedural lapses under Customs Act Section 138B

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....The CESTAT set aside the order enhancing the transaction value of imported goods and imposing confiscation, redemption fine, and penalty, finding that the Revenue failed to provide contemporaneous evidence to reject the declared transaction value. The Tribunal held that reliance on prior imports' higher valuation to reject current declared values was unfounded and contrary to established customs jurisprudence. Additionally, the adjudicating authority's failure to adhere to Section 138B of the Customs Act, including denial of cross-examination, rendered the statements inadmissible. Following binding precedents, the Tribunal emphasized the mandatory nature of procedural compliance under Section 138B and rejected the impugned order as legally unsustainable. Consequently, the appeal was allowed, and the confiscation and penalty imposed on the appellant were quashed.....