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2010 (2) TMI 821 - AT - CustomsMisdeclaration of the goods - value indicated on the invoice is for stainless steel melting scrap whereas the goods which have been exported to India are actually nickel alloy steel scrap – Held that:- value of stainless steel melting scrap cannot be the transaction value of nickel alloy steel scrap, Supreme Court in the case Sanjay Chandiram (1995 - TMI - 43997 - SUPREME COURT OF INDIA) held that when the declaration is found to be false, the declared value is not acceptable, penalty reduced, partly allowed by reduction in the penalty imposed.
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