1995 (3) TMI 91 - SC - Customs

Summary

The Supreme Court considered whether Rule 3(b) of the Customs Valuation Rules was correctly applied in a case involving the import of toners. The appellant's valuation was determined based on the export price list from the manufacturer, leading to confiscation of goods with an option to clear on payment of Rs. 8 lakhs and imposition of a penalty of Rs. 1000. The Tribunal upheld the application of Rule 3(b) but reduced the redemption fine to Rs. 5 lakhs. The Court found no error in invoking Rule 3(b) and upheld the Tribunal's decision. The appeal was dismissed with no costs awarded.