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2018 (5) TMI 1852 - AT - CustomsValuation of imported goods - mis-declaration of value - rejection of declared value - High Seas Sales basis - Held that:- As against the declared goods of H.R. Sheets of 2.5 mm thickness, the goods were found to be of entirely different specification of 25 mm as found during the search on 5-12-2007. Since entirely different goods were found, misdeclaration on the part of the importer is established and hence is liable to be sustained. Consequently, the order of confiscation made under Section 111(l) as well as (m) of the Customs Act, 1962 by the lower authority is justified and hence upheld. The redemption fine and penalty is on the higher side. Accordingly, while upholding the re-assessment of value and payment of differential duty, the redemption fine and penalty reduced by 50%. Thus the appellant will get partial relief - appeal allowed in part.
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