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2016 (9) TMI 471 - CESTAT NEW DELHIRejection of declared value by customs - import of high speed steel tape - Rule 8 of Customs Valuation (Determination of Value of Export Goods) Rules, 2007 – opinion sought by chartered engineer – Confiscation of consignments and levy of penalty - Held that: - though enhancement of value is found to be sustainable, it is clear that there is no malafide or mensrea on the part of the appellant, when it declared the value in the Customs documents and the enhancement of value is the result of the legal provisions regarding determination of the assessable value for the customs purposes – confiscation and penalty set aside – enhancement of value upheld – appeal allowed – decided partly in favor of appellant.
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