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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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