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2011 (7) TMI 371 - CESTAT, CHENNAIConfiscation - undervaluation of imported items - undervaluation is based not only upon the statement of Shri R.Suresh, Proprietor of the appellant but also on the prices shown in the NIDB data - Although the learned counsel vehemently contends that valuation cannot be arrived at on the basis of a statement and that the importer had produced copies of correspondence to show proof of the negotiated prices and relied upon the NIDB data showing lower contemporaneous price for some of the items - Held that:- there is a clear acceptance by Shri Suresh that he had undervalued the goods - There is no reason to interfere with the impugned order as regards confiscation.
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