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2018 (5) TMI 69 - AT - CustomsValuation of imported goods - old and worn garments from South Korea - Held that: - As per the National Import Data Base (NIDB), it appears that the assessee-appellants have shown the valuation on a lower side. So, the lower authorities have rightly estimated the valuation - there is no reason to interfere with the impugned orders when the assessee-appellants have not disputed the valuation - redemption fine also upheld. Penalty u/s 112 of the Customs Act, 1962 - Held that: - the Commissioner (Appeals) has made it uniform @ 10%, but in the peculiar facts and circumstances of the case, especially when the National Import Data was closely to the import value, the same appears to be on higher side - penalty reduced to 5%. Appeal allowed in part.
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