Tribunal finds imported automatic car new; concessional duty allowed; Rule 12 and Rule 3 overturned; s.112(a), s.114AA penalties quashed

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....CESTAT allowed the appeal, set aside the impugned order and held that the appellant imported a new automatic car entitled to the concessional duty under the Notification. The Tribunal found the inspection report established the vehicle was new and that prior UK registration for transit/export formalities did not defeat new-car status. The adjudicating authority's rejection of declared value under Rule 12 (and re-determination under Rule 3) of the Valuation Rules 2007 was unwarranted; therefore no additional customs duty was exigible. Consequential measures - confiscation and penalties under s.112(a) or s.114AA of the Customs Act - were held unsustainable. Appeal allowed.....