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2015 (10) TMI 1775 - SC - CustomsValuation - Zinc Die Cast Scrap imported; claimed classification under Chapter Sub-Heading 7902.00 – On examination, very few pieces were found to be scrap and balance all items were found to be unused and they were serviceable – High Court held that the imported goods are nothing but scrap and valued the same as per the highest bid received. - Seizure and confiscation of goods under Section 111(d) and 111(m) of the Customs Act, 1962 Held That:- After reading the report obtained by Department, it is evident that items imported were nothing but scrap - Valuation report obtained by Department cannot be acted upon as it did not value the product correctly – Department had no other evidence to value goods thus the High Court had no other option but to go by the highest bid – No merit found in the appeal – Decided against the Revenue.
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